Year ended

December 31,

2015

Year ended

December 31,

2014

Year ended

December 31,

2013

Numerator for basic and diluted earnings per common share:

Net income for the year

$

11,373,730

$

6,374,096

$

4,180,464

Denominator for basic and diluted earnings per common share:

Basic weighted average number of common shares outstanding

10,968,500

11,220,874

10,468,250

Effect of stock options

391,584

509,524

813,159

Diluted weighted average number of shares outstanding

11,360,084

11,730,398

11,281,409

Basic earnings per common share

$

1.04

$

0.57

$

0.40

Diluted earnings per common share

$

1.00

$

0.54

$

0.37