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Net Loss Per Common Share
 9 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
Net Income Per Common Share
NET INCOME PER COMMON SHARE

Basic earnings per common share exclude all common stock equivalent, primarily stock options, and is computed using the weighted average number of common shares outstanding during the period. The diluted earnings per common share calculation reflects the potential dilutive effect of securities that could share in earnings of the Company.  Outstanding options are excluded from the diluted earnings per share calculation where they would have an anti-dilutive effect.

 
Three Months Ended September 30,
 
2016
 
2015
Basic income per share
 
 
 
 
 
 
 
Net income
$
1,691,307

 
$
1,152,056

 
 
 
 
Weighted average shares outstanding
4,924,366

 
4,893,548

 
 
 
 
Basic income per share
$
0.34

 
$
0.24

 
 
 
 
Diluted income per share
 
 
 
 
 
 
 
Net income
$
1,691,307

 
$
1,152,056

 
 
 
 
  Weighted average shares outstanding
4,924,366

 
4,893,548

    Dilutive effect of stock options
40,599

 
52,197

 
 
 
 
  Total weighted average shares outstanding
4,964,965

 
4,945,745

 
 
 
 
    Diluted income per share
$
0.34

 
$
0.23

 
 
 
 

 
Nine Months Ended September 30,
 
2016
 
2015
Basic income per share
 
 
 
 
 
 
 
Net income
$
2,020,455

 
$
872,544

 
 
 
 
Weighted average shares outstanding
4,924,366

 
4,892,977

 
 
 
 
Basic income per share
$
0.41

 
$
0.18

 
 
 
 
Diluted income per share
 
 
 
 
 
 
 
Net income
$
2,020,455

 
$
872,544

 
 
 
 
  Weighted average shares outstanding
4,924,366

 
4,892,977

    Dilutive effect of stock options
34,107

 
51,008

 
 
 
 
  Total weighted average shares outstanding
4,958,473

 
4,943,985

 
 
 
 
    Diluted income per share
$
0.41

 
$
0.18