| Computation of basic and diluted earnings (loss) per common share |
The computation of basic and diluted earnings (loss) per common share for the three and six months ended June 30, 2016 and 2015 is as follows:
| | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30,
| | 2016 | | 2015 | | 2016 | | 2015 | Numerator | | | | | | | | Net income (loss) | $ | 1,930,769 |
| | $ | (681,628 | ) | | $ | 2,193,380 |
| | $ | 2,646,149 |
| Denominator: | |
| | | | | | | Denominator for basic earnings (loss) per common share - weighted-average shares | 28,922,741 |
| | 27,110,580 |
| | 28,997,401 |
| | 25,208,784 |
| Effect of dilutive securities: | |
| | | | | | | Employee stock awards | 660,876 |
| | — |
| | 703,567 |
| | 615,382 |
| Denominator for dilutive earnings (loss) per common share | 29,583,617 |
| | 27,110,580 |
| | 29,700,968 |
| | 25,824,166 |
| Basic earnings (loss) per common share | $ | 0.07 |
| | $ | (0.03 | ) | | $ | 0.08 |
| | $ | 0.10 |
| Diluted earnings (loss) per common share | $ | 0.07 |
| | $ | (0.03 | ) | | $ | 0.07 |
| | $ | 0.10 |
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