Significant Accounting Policies - 10-Q (Tables)

6 Months Ended

Jun. 30, 2016

Computation of Basic and Diluted Earnings Per Share

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Net (loss) income	$	(8,071,570)	$	10,389,405	$	(15,626,548)	$	3,280,276
Net (loss) income per common share - basic	$	(0.41)	$	0.55	$	(0.80)	$	0.17
Net (loss) income per common share - diluted	$	(0.41)	$	0.51	$	(0.80)	$	0.16
Basic weighted average common shares outstanding		19,793,202		19,011,960		19,432,520		18,986,746
Diluted weighted average common shares outstanding		19,793,202		20,236,946		19,432,520		20,227,600

Potentially Dilutive Securities Outstanding

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



	Three Months Ended June 30,		Six Months Ended June 30,
	2016	2015	2016	2015
Warrants	—	565,537	—	564,804
Stock options and restricted stock units	—	659,449	—	676,050

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



	Three Months Ended June 30,		Six Months Ended June 30,
	2016	2015	2016	2015
Warrants	578,687	1,544	578,687	1,544
Stock options and restricted stock units	2,819,789	1,427,155	2,819,789	1,427,155