Earnings Per Share

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share

Note 2. 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:

	For the year ended December 31,
	2014		2013		2012
Basic and Diluted Earnings per Share
Calculation:
Numerator: basic and diluted
Net earnings (loss) attributable
to common shareholders:
Continuing operations	$	(22,740)	$	(1,833)	$	(11,096)
Discontinued operations		3,052		(2,867)		(2,283)
Net loss attributable to common
shareholders - total basic and diluted	$	(19,688)	$	(4,700)	$	(13,379)
Denominator:
Weighted average number
of common shares - basic and diluted		3,897,092		2,889,823		2,885,041
Basic and Diluted  Earnings
Per Common Share:
Net earnings (loss) attributable
to common shareholders per
weighted average common share:
Continuing operations - basic and diluted	$	(5.84)	$	(0.64)	$	(3.85)
Discontinued operations - basic and diluted		0.79		(0.99)		(0.79)
Total - basic and diluted	$	(5.05)	$	(1.63)	$	(4.64)

Potentially dilutive common shares, if any, have been excluded from the denominator if they are antidilutive to earnings (loss) attributable to common shareholders. The number of weighted average shares of common stock at December 31, 2014 is significantly higher than the outstanding shares at December 31, 2013 and 2012 due to the issuance of common stock from the rights offering during the last month of the second quarter of 2014.

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:

	2014	2013	2012
Preferred operating units	0	0	1,190
Outstanding stock options	8,750	20,063	27,875
Unvested stock awards outstanding	1,541	2,257	602
Warrants	3,750,000	3,750,000	3,426,770
Series C preferred stock	18,750,000	3,750,000	3,389,344
Convertible debt	551,370	0	0
Total potentially dilutive securities
excluded from the denominator	23,061,661	7,522,320	6,845,781