Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2018

The following table reconciles the numerator and denominator used to calculate diluted earnings (loss) per share for the three and six months ended June 30, 2018 and 2017:


	Three months ended June 30,
	2018		2017
Numerator:
Net income (loss) attributable to common shareholders	$	(720,688)	$	(5,160,611)
Denominator:
Weighted-average shares outstanding – basic	15,674,954		16,011,758
Dilutive effect of other securities	—		—
Weighted-average shares outstanding – diluted	15,674,954		16,011,758

	Six months ended June 30,
	2018		2017
Numerator:
Net income (loss) attributable to common shareholders	$	(3,099,927)	$	(6,435,057)
Denominator:
Weighted-average shares outstanding – basic	15,682,348		16,026,935
Dilutive effect of other securities	—		—
Weighted-average shares outstanding – diluted	15,682,348		16,026,935

As of June 30, 2018 and 2017, restricted stock awards and options to purchase 231,905 and 20,375 shares of common stock, respectively, were outstanding but were not included in the computation of diluted earnings per share because the effect would be antidilutive.