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Earnings per Share (Tables)
 12 Months Ended
Dec. 31, 2019
Earnings per Share [Abstract]  
Reconciliation of Basic and Diluted Earnings per Common Share



 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 



Year ended December 31,



2019

 

2018

 

2017

Numerator: Basic (1)

 

 

 

 

 

 

 

 

Net earnings (loss) attributable to common shareholders

$

 (5,626)

 

$

 4,787 

 

$

 (9,362)

Less: Allocation to participating securities

 

 (38)

 

 

 (67)

 

 

 (56)

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

$

 (5,664)

 

$

 4,720 

 

$

 (9,418)



 

 

 

 

 

 

 

 

Numerator: Diluted (1)

 

 

 

 

 

 

 

 

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

$

 (5,664)

 

$

 4,720 

 

$

 (9,418)

Interest and fair value adjustment on Convertible Debt

 

 -

 

 

 (6)

 

 

 -

Total Diluted

$

 (5,664)

 

$

 4,714 

 

$

 (9,418)



 

 

 

 

 

 

 

 

Denominator

 

 

 

 

 

 

 

 

Weighted average number of common shares - Basic

 

 11,856,113 

 

 

 11,784,222 

 

 

 9,437,824 

Performance Based Share Awards

 

 -

 

 

 4,285 

 

 

 -

Convertible Note

 

 -

 

 

 97,269 

 

 

 -

Weighted average number of common shares - Diluted

 

 11,856,113 

 

 

 11,885,776 

 

 

 9,437,824 



 

 

 

 

 

 

 

 

Earnings Per Share

 

 

 

 

 

 

 

 

Basic Earnings (Loss) per Share

$

 (0.48)

 

$

 0.40 

 

$

 (1.00)

Diluted Earnings (Loss) per Share

$

 (0.48)

 

$

 0.40 

 

$

 (1.00)



 

 

 

 

 

 

 

 



Schedule of Potentially Dilutive Securities Excluded from Computation of Earnings per Share



 

 

 

 

 



Year ended December 31,



2019

 

2018

 

2017

Outstanding stock options (2)

 -

 

 -

 

 258 

Unvested restricted stock

62,742 

 

 79,456 

 

 48,869 

Warrants - RES (2)

 -

 

 -

 

 53,608 

Warrants - Employees (2)

 -

 

 11,056 

 

 66,153 

Series D Preferred Stock (2)

 -

 

 -

 

 970,606 

Series E Preferred Stock

 668,111 

 

 668,111 

 

 560,115 

Convertible debt

 97,269 

 

 -

 

 97,269 

LTIP common units (1) (2)

 -

 

 -

 

 49,636 

Operating partnership common units (1)

 54,330 

 

 86,255 

 

 70,722 

Total potentially dilutive securities excluded from the denominator

 882,452 

 

 844,878 

 

 1,917,236 



(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 period presented.  These instruments were no longer outstanding at December 31, 2019.