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EARNINGS PER SHARE
 3 Months Ended
Mar. 31, 2013
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE

The components of basic and diluted earnings per share are as follows:

 
For the Three Months Ended March 31,
 
2013

 
2012

Net (loss) / income attributable to CME Ltd.
$
(108,280
)
 
$
(13,392
)
 
 
 
 
Weighted average outstanding shares of common stock - basic (1)
88,397

 
64,393

Dilutive effect of employee stock options and RSUs
—

 
—

Weighted average outstanding shares of common stock - diluted
88,397

 
64,393

 
 
 
 
Net loss per share:
 
 
 
Basic
$
(1.22
)
 
$
(0.21
)
Diluted
$
(1.22
)
 
$
(0.21
)

(1) For the purpose of computing basic earnings per share, the 11,211,449 shares of Class A common stock underlying the Series A Preferred Share are included in the weighted average outstanding shares of common stock - basic, primarily because the holder of the Series A Preferred Share is entitled to receive any dividends payable when dividends are declared by the Board of Directors with respect to any shares of common stock.

At March 31, 2013, 3,059,240 (December 31, 2012: 3,087,087) stock options and warrants were antidilutive to income from continuing operations and excluded from the calculation of earnings per share. These may become dilutive in the future. Shares of Class A common stock potentially issuable under our 2015 Convertible Notes may also become dilutive in the future, although they were antidilutive to income at March 31, 2013. We expect to issue additional equity in connection with the previously announced public and private equity offerings (see Note 19, "Subsequent Events").