Losses per Share - 6K (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2016

Dec. 31, 2015

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	)

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

Potentially Dilutive Securities

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

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