BASIC AND DILUTED LOSS PER COMMON SHARE (TABLES)
 9 Months Ended
Sep. 30, 2016
BASIC AND DILUTED LOSS PER COMMON SHARE (TABLES)  
Presentation of the numerators and denominators used in the calculation of basic and diluted earnings per share

The following table is a presentation of the numerators and denominators used in the calculation of basic and diluted (loss) earnings per share:

 

 

 

For the Three Months

 

 

For the Nine Months

 

 

 

Ended September 30,

 

 

Ended September 30,

 

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Net (loss) income

 

$

(1,749,909

)

 

$

2,931,724

 

 

$

(5,756,607

)

 

$

(9,157,571

)

Basic weighted-average common shares outstanding

 

 

43,579,557

 

 

 

43,579,557

 

 

 

43,579,557

 

 

 

43,579,557

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Warrants

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Options

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Diluted weighted-average common shares outstanding

 

 

43,579,557

 

 

 

43,579,557

 

 

 

43,579,557

 

 

 

43,579,557

 

Basic (loss) earnings per share

 

$

(0.04

)

 

$

0.07

 

 

$

(0.13

)

 

$

(0.21

)

Diluted loss per share

 

$

(0.04

)

 

$

0.07

 

 

$

(0.13

)

 

$

(0.21

)