Earnings Per Common Share

3 Months Ended

Mar. 31, 2016

2. Earnings per Common Share

Basic earnings per share is computed by dividing net income (loss) attributable to common stockholders by the weighted average number of shares of common stock outstanding for the three months ended March 31, 2016 and 2015 .

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.

For the three months ended March 31, 2016, common stock equivalents from convertible instruments, stock options and other stock units have been excluded from the calculation of weighted average diluted shares because all such instruments were anti-dilutive.

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

	Three Months Ended
	March 31,
	2016		2015
Weighted average basic shares		8,263,223		8,206,684
Dilutive effect of preferred stock, warrants, stock options and restricted stock units		-		235,098
Total weighted average diluted shares		8,263,223		8,441,782