Earnings Per Share

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

Basic earnings per share (“EPS”) is computed by dividing earnings available to common shareholders by the weighted average number of common shares outstanding. Diluted EPS is computed after adjusting the numerator and denominator of the basic EPS computation for the effects of any dilutive potential common shares outstanding during the period, if any. The effects include adjustments to the numerator for any change in fair market value attributed to the derivative liabilities (related to the Series C convertible preferred stock and warrants, and the convertible loan) during the period the convertible securities are dilutive. The computation of basic and diluted earnings per common share is presented below:

	Three months ended
(dollars in thousands, except per share data)	March 31,
	2014		2013
Basic and Diluted Earnings per Share
Calculation:
Numerator: basic and diluted
Net earnings (loss) attributable
to common shareholders:
Continuing operations	$	(1,694)	$	(3,856)
Discontinued operations		343		(1,039)
Net earnings (loss) attributable to
common shareholders - total basic and diluted	$	(1,351)	$	(4,895)
Denominator:
Weighted average number
of common shares - basic and diluted		2,892,348		2,887,616
Basic and Diluted  Earnings
Per Common Share:
Net earnings (loss) attributable
to common shareholders
per weighted average common share:
Continuing operations - basic and diluted	$	(0.59)	$	(1.34)
Discontinued operations - basic and diluted		0.12		(0.36)
Total - Basic and Diluted EPS	$	(0.47)	$	(1.70)

The net earnings (loss) attributable to noncontrolling interest is allocated between continuing and discontinued operations.  Additionally, unvested stock awards, outstanding stock options, the Series C convertible preferred stock and warrants, the preferred operating units, if any, and the convertible loan have been omitted from the denominator for the purpose of computing diluted earnings per share for the three months ended March 31, 2014 and 2013, since the effects of including these shares in the denominator would be antidilutive due to the loss from continuing operations applicable to common shareholders.  The following table summarizes the weighted average of potentially dilutive securities that have been excluded from the denominator for the purpose of computing diluted earnings per share:

	Three months ended
	March 31
	2014	2013
Outstanding stock options	17,563	27,878
Unvested stock awards outstanding	11,049	1,818
Warrants	3,750,000	3,750,000
Series C preferred stock	3,750,000	3,750,000
Convertible debt	1,307,190	0
Total potentially dilutive securities
excluded from the denominator	8,835,802	7,529,696