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SUBSEQUENT EVENTS
 9 Months Ended
Sep. 30, 2016
SUBSEQUENT EVENTS  
SUBSEQUENT EVENTS

19.                            SUBSEQUENT EVENTS

 

On October 11, 2016, the Company filed a Certificate of Amendment to its Amended and Restated Certificate of Incorporation to increase the number of authorized shares of the Company’s common stock, par value $0.005 per share (“Common Stock”), from 240,000,000 shares to 1,250,000,000 shares.

 

On October 14, 2016, the Company announced that its Board of Directors approved a 3-for-1 stock split of its Common Stock to be effected in the form of a 200% stock dividend. The additional shares will be distributed on November 9, 2016 to stockholders of record at the close of business (Eastern Time) on October 26, 2016. The Company anticipates its common stock to begin trading at the split-adjusted price on November 10, 2016.

 

The following pro-forma earnings per share information has been adjusted retroactively to reflect the stock split:

 

 

 

Three-Months Ended

 

Nine-Months Ended

 

 

 

September 30,

 

September 30,

 

 

 

2016

 

2015

 

2016

 

2015

 

 

 

 

 

 

 

 

 

 

 

NET INCOME

 

  $

191,643

 

  $

174,574

 

  $

539,738

 

  $

407,991

 

 

 

 

 

 

 

 

 

 

 

NET INCOME PER COMMON SHARE:

 

 

 

 

 

 

 

 

 

Basic

 

  $

0.34

 

  $

0.28

 

  $

0.91

 

  $

0.74

 

Diluted

 

  $

0.33

 

  $

0.28

 

  $

0.89

 

  $

0.72

 

 

 

 

 

 

 

 

 

 

 

WEIGHTED AVERAGE NUMBER OF SHARES OF COMMON STOCK AND COMMON STOCK EQUIVALENTS:

 

 

 

 

 

 

 

 

 

Basic

 

571,138

 

615,153

 

594,219

 

552,294

 

Diluted

 

583,293

 

624,282

 

606,280

 

564,393