Three months

ended

June 30, 2015

Three months

ended

June 30, 2014

Six months

ended

June 30, 2015

Six months

ended

June 30, 2014

Numerator for basic and diluted earnings per common share:

Net income for the period

$

2,284,995

$

1,347,182

$

5,118,938

$

1,824,021

Denominator for basic and diluted earnings per common share:

Basic weighted average number of common shares outstanding

11,047,136

11,219,101

11,094,618

11,124,357

Effect of outstanding stock options

409,534

510,446

423,487

560,172

Diluted weighted average number of shares outstanding

11,456,670

11,729,547

11,518,105

11,684,529

Basic earnings per common share

$

0.21

$

0.12

$

0.46

$

0.16

Diluted earnings per common share

$

0.20

$

0.11

$

0.44

$

0.16