Earnings Per Common Share

6 Months Ended

Jun. 30, 2015

2. Earnings per Common Share

Basic earnings per share is computed by dividing net income (loss) attributable to common stockholders by the number of shares of common stock outstanding for the three months and six months ended June 30, 2015 and 2014.

Diluted earnings per share is computed by dividing net income (loss) attributable to common stockholders, by the sum of (1) the weighted-average number of shares of common stock outstanding during the period, (2) the dilutive effect of the assumed exercise of convertible instruments and (3) the dilutive effect of the exercise of stock options and other stock units to our common stock.

When convertible preferred stocks are assumed converted then dividends are added back to the earnings in the calculation of diluted earnings per share.

The following tables set forth the computation of basic and diluted common shares.

Continuing Operations
	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2015		2014		2015		2014
Weighted average basic shares		8,250,833		8,176,808		8,235,901		8,115,214
Dilutive effect of preferred stock, warrants, stock options and restricted stock units *		43,114		1,546,268		43,114		1,595,208
Total weighted average diluted shares		8,293,947		9,723,076		8,279,015		9,710,422



With Discontinued Operations
	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2015		2014		2015		2014
Weighted average basic shares		8,250,833		8,176,808		8,235,901		8,115,214
Dilutive effect of preferred stock, warrants, stock options and restricted stock units *		43,114		-		43,114		-
Total weighted average diluted shares		8,293,947		8,176,808		8,279,015		8,115,214

* When preferred shares are assumed converted, their dividends are added back to net income.