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v2.4.1.9

LOSS PER SHARE (Details) (USD $) | 12 Months Ended
--- | ---
Dec. 31, 2014 | Dec. 31, 2013
Numerator: |  |  |
Net loss attributable to Pangaea Logistics Solutions Ltd. | $ (12,128,449)us-gaap_NetIncomeLoss | $ 15,452,369 us-gaap_NetIncomeLoss |
Less: dividends declared on convertible redeemable preferred stock | (6,303,747)us-gaap_DividendsPreferredStock | (6,288,456)us-gaap_DividendsPreferredStock |
Less: modification of conversion price | 0 cik0001606909_DebtInstrumentConvertibleModificationOfConversionPrice | 0 cik0001606909_DebtInstrumentConvertibleModificationOfConversionPrice |
Less: beneficial conversion | (11,776,661)cik0001606909_EarningsPerShareReconciliationBeneficialConversion | (8,959,421)cik0001606909_EarningsPerShareReconciliationBeneficialConversion | [1]
Less: settlement of accrued dividends | 0 cik0001606909_EarningsPerShareReconciliationSettlementOfAccruedDividends | (45,843)cik0001606909_EarningsPerShareReconciliationSettlementOfAccruedDividends |
Less: settlement of notes | 0 cik0001606909_IncrementalCommonSharesAttributableToSettlementOfNotes | (1,429,217)cik0001606909_IncrementalCommonSharesAttributableToSettlementOfNotes |
Less: fair value adjustment | 0 cik0001606909_EarningsPerShareReconciliationFairValueAdjustment | (7,517,915)cik0001606909_EarningsPerShareReconciliationFairValueAdjustment |
Total (losses) allocated to common stock | $ (30,208,857)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic | $ (8,788,483)us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic |
Denominator: |  |  |
Weighted-average number of shares of common stock outstanding | 18,726,308 us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted | 13,421,955 us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted |
Basic and Diluted EPS - common stock | $ (1.61)us-gaap_EarningsPerShareBasicAndDiluted | $ (0.65)us-gaap_EarningsPerShareBasicAndDiluted |
[1] | The full value of the beneficial conversion adjustment to net income for purposes of calculating EPS is $8,959,421, however retained earnings are reduced by $4,927,423, with the remaining amount as an offset to the increase in additional paid-in capital.

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