Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2015

Computation of Basic and Diluted Net Income Per Common Share

Basic and diluted net income per common share is computed as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Net income	$	10,389,405	$	7,991,721	$	3,280,276	$	2,889,870
Net income per common share-basic	$	0.55	$	0.42	$	0.17	$	0.16
Net income per common share-diluted	$	0.51	$	0.39	$	0.16	$	0.15
Basic weighted average common shares outstanding		19,011,960		18,807,675		18,986,746		18,020,121
Diluted weighted average common shares outstanding		20,236,946		20,238,343		20,227,600		19,472,995

Common Stock Equivalents Included in Calculation of Diluted Net Income Per Common Share

The following common stock equivalents are included in the calculation of diluted net income per common share:


	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Warrants		565,537		611,698		564,804		613,345
Stock options and restricted stock units		659,449		818,970		676,050		839,529

Potential Dilutive Securities Outstanding

The following potentially dilutive securities outstanding have been excluded from the computation of diluted weighted average shares outstanding, as they would be anti-dilutive:


	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Warrants		1,544		1,544		1,544		1,544
Stock options and restricted stock units		1,427,155		919,188		1,427,155		919,188