• Filing Date: 2018-11-13
  • Form Type: 10-Q
  • Description: Quarterly report
v3.10.0.1
EARNINGS (LOSS) PER SHARE (Tables)
9 Months Ended
Sep. 30, 2018
Earnings Loss Per Share Tables Abstract  
Earnings (loss) per common share
    Three Months Ended September 30,     Nine Months Ended September 30,  
    2018     2017     2018     2017  
Basic and diluted (loss) earnings per share                                  
    Net (loss) earnings from continuing operations   $ (503,834 )   $ (791,360 )   $ (3,618,967 )   $ (1,913,460 )
    Less: preferred stock accretion     (166,519 )     (144,916 )     (482,696 )     (400,616 )
    Less: preferred stock dividends     (114,908 )     (87,907 )     (344,724 )     (251,508 )
        Net income (loss) attributable to shareholders     (785,261 )     (1,024,183 )     (4,446,387 )     (2,565,584 )
    Weighted average common shares outstanding - basic     14,542,362       11,756,560       14,524,030       10,920,866  
        Basic (loss) earnings per share   $ (0.05 )   $ (0.09 )   $ (0.31 )   $ (0.23 )
    Weighted average common shares outstanding - diluted     14,542,362       11,756,560       14,524,030       10,920,866  
        Diluted (loss) earnings per share   $ (0.05 )   $ (0.09 )   $ (0.31 )   $ (0.23 )
            Common stock equivalents excluded due to anti-dilutive effect     2,675,906       2,016,838       2,690,768       2,048,739  
Earnings (loss) per common share, Two-Class Method
    Three Months Ended September 30,     Nine Months Ended September 30,  
    2018     2017     2018     2017  
Numerator:                        
    Net (loss) earnings from continuing operations   $ (503,834 )   $ (791,360 )   $ (3,618,967 )   $ (1,913,460 )
    Less: preferred stock accretion     (166,519 )     (144,916 )     (482,696 )     (400,616 )
    Less: preferred stock dividends     (114,908 )     (87,907 )     (344,724 )     (251,508 )
        Net income (loss) attributable to shareholders   $ (785,261 )   $ (1,024,183 )   $ (4,446,387 )   $ (2,565,584 )
Denominator (basic):                                
   Weighted average common shares outstanding     14,542,362       11,756,560       14,524,030       10,920,866  
    Participating securities - Series A preferred stock     974,487       974,487       974,487       917,931  
    Participating securities - Series B preferred stock     481,722       -       481,722       -  
        Weighted average shares outstanding     15,998,571       12,731,047       15,980,239       11,838,797  
                                 
Loss per common share - basic under two-class method   $ (0.05 )   $ (0.08 )   $ (0.28 )   $ (0.22 )
                                 
Denominator (diluted):                                
    Weighted average common shares outstanding     14,542,362       11,756,560       14,524,030       10,920,866  
    Participating securities - Series A preferred stock     974,487       974,487       974,487       917,931  
    Participating securities - Series B preferred stock     481,722       -       481,722       -  
        Weighted average shares outstanding     15,998,571       12,731,047       15,980,239       11,838,797  
                                 
Loss per common share - basic under two-class method   $ (0.05 )   $ (0.08 )   $ (0.28 )   $ (0.22 )