NOTE 14. EARNINGS PER SHARE

Basic earnings per share (“EPS”) is computed by dividing net earnings (loss) attributable 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. These effects include adjustments to the numerator for any change in fair value included in net earnings (loss) attributed to the certain derivative liabilities (related to the Series C Preferred Stock and warrants) during the period the convertible securities are dilutive. The computation of basic and diluted EPS is presented below:



	Year ended December 31,
	2016		2015		2014
Numerator: Basic (1)
Net earnings (loss) attributable to common shareholders
Continuing operations - Basic	$	1,390	$	6,055	$	(22,581)
Discontinued operations - Basic		657		3,438		2,893
Total Basic	$	2,047	$	9,493	$	(19,688)

Numerator: Diluted (1)
Net earnings (loss) attributable to common shareholders from continuing operations	$	1,390	$	6,055	$	(22,581)
Dividends on Series C Preferred Stock		-		2,074		-
Dividends on Series D Preferred Stock		3,090		-		-
Unrealized gain on warrant derivative		-		(4,122)		-
Unrealized gain on Series C Preferred Embedded Derivative		-		(7,533)		-
Continuing operations - Diluted		4,480		(3,526)		(22,581)
Discontinued operations - Diluted		657		3,438		2,893
Total Diluted	$	5,137	$	(88)	$	(19,688)

Denominator
Weighted average number of common shares - Basic		4,947,234		4,885,625		3,897,092
Unvested stock		-		4,025		-
Series C Preferred Stock		-		18,750,000		-
Series D Preferred Stock		31,033,818		-		-
Warrants - Employees		-		691		-
Warrants - RES		-		(399,778)		-
Weighted average number of common shares - Diluted		35,981,052		23,240,563		3,897,092

Earnings Per Share
Continuing operations - Basic	$	0.28	$	1.24	$	(5.79)
Discontinued operations - Basic		0.13		0.70		0.74
Total - Basic Earnings Per Share	$	0.41	$	1.94	$	(5.05)

Continuing operations - Diluted	$	0.12	$	(0.15)	$	(5.79)
Discontinued operations - Diluted		0.02		0.15		0.74
Total - Diluted Earnings Per Share	$	0.14	$	-	$	(5.05)

(1) The loss (earnings) attributable to noncontrolling interest is allocated between continuing and discontinued operations for the purpose of the EPS calculation

Potentially dilutive common shares, if any, have been excluded from the denominator if they are antidilutive to net earnings (loss) attributable to common shareholders. The following table summarizes the weighted average number of potentially dilutive securities that have been excluded from the denominator for the purpose of computing diluted EPS:


	Year ended December 31,
	2016	2015	2014
Outstanding stock options	5,625	5,625	8,750
Unvested stock awards outstanding	-	-	1,541
Warrants - RES	3,750,000	-	3,750,000
Warrants - Employees	430,000	359,121	-
Series C preferred Stock	3,893,443	-	18,750,000
LTIP common units (1)	657,894	549,747	-
Convertible debt	502,690	-	551,370
CHLP common units (1)	300,728	84,556	12,126
Total potentially dilutive securities excluded from the denominator	9,540,380	999,049	23,073,787

(1)

LTIP and common units of CHLP have been omitted from the denominator for the purpose of computing diluted EPS since the effect of including these amounts in the numerator and denominator would have no impact on calculated EPS