Year ended

December 31,

2014

Year ended

December 31,

2013

Year ended

December 31,

2012

Numerator for basic and diluted earnings per common share:

Net income for the year

$

6,374,096

$

4,180,464

$

4,424,142

Denominator for basic and diluted earnings per common share:

Basic weighted average number of common shares outstanding

11,220,874

10,468,250

11,458,216

Effect of stock options

509,524

813,159

825,520

Diluted weighted average number of shares outstanding

11,730,398

11,281,409

12,283,736

Basic earnings per common share

$

0.57

$

0.40

$

0.39

Diluted earnings per common share

$

0.54

$

0.37

$

0.36