Three months

ended

September 30,

2013

Three months

ended

September 30,

2012

Nine months

ended

September 30,

2013

Nine months

ended

September 30,

2012

Numerator for basic and diluted earnings per common share:

Net income for the period

$

2,593,360

$

1,635,000

$

3,257,569

$

3,994,617

Denominator for basic and diluted earnings per common share:

Basic weighted average number of common shares outstanding

43,183,583

45,094,678

41,289,876

46,362,261

Effect of outstanding stock options

2,456,317

3,316,751

3,459,356

3,241,609

Diluted weighted average number of shares outstanding

45,639,900

48,411,429

44,749,232

49,603,870

Basic earnings per common share

$

0.06

$

0.04

$

0.08

$

0.09

Diluted earnings per common share

$

0.06

$

0.03

$

0.07

$

0.08