Earnings (Loss) Per Share

9 Months Ended

Sep. 30, 2018

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


	Three months ended September 30,
	2018		2017
Numerator:
Net income (loss) attributable to common shareholders	$	(1,643,044)	$	(743,031)
Denominator:
Weighted-average shares outstanding – basic	15,573,108		15,867,159
Dilutive effect of other securities	—		—
Weighted-average shares outstanding – diluted	15,573,108		15,867,159

	Nine months ended September 30,
	2018		2017
Numerator:
Net income (loss) attributable to common shareholders	$	(4,742,971)	$	(7,178,088)
Denominator:
Weighted-average shares outstanding – basic	15,645,230		15,973,737
Dilutive effect of other securities	—		—
Weighted-average shares outstanding – diluted	15,645,230		15,973,737

As of September 30, 2018 and 2017, restricted stock awards and options to purchase 18,325 and 14,175 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.