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Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2017
Earnings Per Share [Abstract]  
Reconciliation Of Basic And Diluted Earnings Per Common Share



 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



 

Year ended December 31,



 

2017

 

2016

 

2015

Numerator: Basic (1)

 

 

 

 

 

 

 

 

 

Net earnings (loss) attributable to common shareholders:

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

 (9,362)

 

$

 1,390 

 

$

 6,055 

Discontinued operations

 

 

 -

 

 

 657 

 

 

 3,438 

Total Net earnings (loss) attributable to common shareholders

 

 

 (9,362)

 

 

 2,047 

 

 

 9,493 

Less: Allocation to participating securities

 

 

 (56)

 

 

 -

 

 

 -

Net earnings (loss) attributable to common shareholders, net of amount allocated to participating securities

 

$

 (9,418)

 

$

 2,047 

 

$

 9,493 



 

 

 

 

 

 

 

 

 

Numerator: Diluted (1)

 

 

 

 

 

 

 

 

 

Net earnings (loss) attributable to common shareholders from continuing operations, net of amount allocated to participating securities

 

$

 (9,418)

 

$

 1,390 

 

$

 6,055 

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

 

 

 (9,418)

 

 

 4,480 

 

 

 (3,526)

Discontinued operations - Diluted

 

 

 -

 

 

 657 

 

 

 3,438 

Total Diluted

 

$

 (9,418)

 

$

 5,137 

 

$

 (88)



 

 

 

 

 

 

 

 

 

Denominator

 

 

 

 

 

 

 

 

 

Weighted average number of common shares - Basic

 

 

 9,437,824 

 

 

 761,112 

 

 

 751,634 

Unvested stock

 

 

 -

 

 

 -

 

 

 619 

Series C Preferred Stock

 

 

 -

 

 

 -

 

 

 2,884,615 

Series D Preferred Stock

 

 

 -

 

 

 4,774,433 

 

 

 -

Warrants - Employees

 

 

 -

 

 

 -

 

 

 106 

Warrants - RES

 

 

 -

 

 

 -

 

 

 (61,504)

Weighted average number of common shares - Diluted

 

 

 9,437,824 

 

 

 5,535,545 

 

 

 3,575,470 



 

 

 

 

 

 

 

 

 

Earnings Per Share

 

 

 

 

 

 

 

 

 

Continuing operations - Basic

 

$

 (1.00)

 

$

 1.82 

 

$

 8.06 

Discontinued operations - Basic

 

 

 -

 

 

 0.85 

 

 

 4.55 

Total - Basic Earnings (Loss) per Share

 

$

 (1.00)

 

$

 2.67 

 

$

 12.61 



 

 

 

 

 

 

 

 

 

Continuing operations - Diluted

 

$

 (1.00)

 

$

 0.78 

 

$

 (0.98)

Discontinued operations - Diluted

 

 

 -

 

 

 0.13 

 

 

 0.98 

Total - Basic Earnings (Loss) per Share

 

$

 (1.00)

 

$

 0.91 

 

$

 -



 

 

 

 

 

 

 

 

 

(1)

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



Schedule Of Potentially Dilutive Securities Excluded From Computation Of Earnings Per Share



 

 

 

 

 



Year ended December 31,



2017

 

2016

 

2015

Outstanding stock options (2)

 258 

 

 865 

 

 865 

Unvested restricted stock

48,869 

 

 -

 

 -

Warrants - RES (2)

 53,608 

 

 576,923 

 

 -

Warrants - Employees

 66,153 

 

 66,153 

 

 55,249 

Series C Preferred Stock

 -

 

 598,991 

 

 -

Series D Preferred Stock (2)

 970,606 

 

 -

 

 -

Series E Preferred Stock

 560,115 

 

 -

 

 -

Convertible debt

 97,269 

 

 77,336 

 

 -

LTIP common units (1) (2)

 49,636 

 

 101,213 

 

 84,576 

Operating partnership common units (1)

 70,722 

 

 46,265 

 

 13,008 

Total potentially dilutive securities excluded from the denominator

 1,917,236 

 

 1,467,746 

 

 153,698 



(1)

LTIP and common units 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.

(2)

Amounts above are weighted average amounts outstanding for the year.  These instruments were no longer outstanding at December 31, 2017.