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Earnings per Share - 20F | 9 Months Ended | 12 Months Ended
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Sep. 30, 2016 | Dec. 31, 2015
Earnings per Share [Abstract] |  |
Earnings per Share |
13. | Losses per Share:
The calculation of net earnings per common share is summarized below:
|  | Nine-month period ended September 30, |
|  | 2016 |  |  | 2015 |
Net loss |  |  | (17,730 | ) |  |  | (3,105 | )
Weighted average common shares outstanding – basic and diluted |  |  | 19,594,354 |  |  |  | 8,130,931 |
Net loss per common share – basic and diluted |  | $ | (0.90 | ) |  | $ | (0.38 | )
As of September 30, 2016 and 2015, securities that could potentially dilute basic EPS in the future that were not included in the computation of diluted EPS as mentioned above are:
|  | 2016 |  |  | 2015 |
Non-vested equity incentive plan shares (Note 14) |  |  | 144,000 |  |  |  | - |
Convertible promissory note shares (Note 3) |  |  | 27,738,890 |  |  |  | 7,333,333 |
Total |  |  | 27,882,890 |  |  |  | 7,333,333 |
14. | Earnings per Share:
The calculation of net earnings per common share is summarized below:
|  | For the years ended December 31 |
|  | 2015 |  |  | 2014 |  |  | 2013 |
Basic: |  |  |  |  |  |  |  |  |
Net (loss) / income |  |  | (8,956 | ) |  |  | 80,348 |  |  |  | 10,907 |
Weighted average common shares outstanding – basic |  |  | 10,773,404 |  |  |  | 2,672,945 |  |  |  | 2,391,628 |
Net (loss) / income per common share – basic |  | $ | (0.83 | ) |  | $ | 30.06 |  |  | $ | 4.56 |
Diluted: |  |  |  |  |  |  |  |  |  |  |  |
Net (loss) / income |  |  | (8,956 | ) |  |  | 80,348 |  |  |  | 10,907 |
Weighted average common shares outstanding – basic |  |  | 10,773,404 |  |  |  | 2,672,945 |  |  |  | 2,391,628 |
Non-vested equity incentive shares |  |  | - |  |  |  | 5 |  |  |  | 227 |
Weighted average common shares outstanding – diluted |  |  | 10,773,404 |  |  |  | 2,672,950 |  |  |  | 2,391,885 |
Net (loss) / income per common share – diluted |  | $ | (0.83 | ) |  | $ | 30.06 |  |  | $ | 4.56 |
As of December 31, 2015, 2014 and 2013, securities that could potentially dilute basic EPS in the future that were not included in the computation of diluted EPS as mentioned above are:
|  | 2015 |  |  | 2014 |  |  | 2013 |
Non-vested equity incentive plan shares (Note 15) |  |  | 152,000 |  |  |  | - |  |  |  | - |
Convertible promissory note shares (Note 3) |  |  | 17,294,444 |  |  |  | - |  |  |  | - |
Private shares under warrants (Note 12) |  |  | - |  |  |  | 15,185 |  |  |  | 15,185 |
Total |  |  | 17,446,444 |  |  |  | 15,185 |  |  |  | 15,185 |

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