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Income (Loss) Per Share and Per Unit

12 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

Income (Loss) Per Share and Per Unit

14. Income (Loss) per Share and per Unit

Income (Loss) Per Share. The limited partners’ outstanding limited partnership units in the Operating Partnership (which may be redeemed for common stock upon notice from the limited partner and following our election to redeem the units for stock rather than cash) have been excluded from the diluted earnings per share calculation as there would be no effect on the amounts since the limited partners’ share of income would also be added back to net income (loss). The effect of the allocation of net loss attributable to the limited partners’ interests by the issuance of dilutive shares has been excluded, since there would be an anti-dilutive effect from the pro forma dilution of the Essex Warrant discussed in Note 6 issued in April 2011. The computation of basic and diluted income (loss) per share is presented below.

	Year Ended				Year Ended				Year Ended
	December 31, 2015				December 31, 2014				December 31, 2013
Numerator
Net income (loss) attributable to the Company for basic computation	$	5,356,666			$	(584,671	)		$	(3,483,969	)
Denominator
Weighted average number of common shares outstanding for basic computation		12,541,117				10,377,125				10,156,955
Basic and diluted net income (loss) per share	$	0.43			$	(0.06	)		$	(0.34	)

Income (Loss) Per Unit. The computation of basic and diluted income (loss) per unit is presented below.

	Year Ended				Year Ended				Year Ended
	December 31, 2015				December 31, 2014				December 31, 2013
Numerator
Net income (loss)	$	6,397,653			$	(738,509	)		$	(4,473,592	)
Denominator
Weighted average number of units outstanding		14,924,410				13,107,413				13,042,020
Basic and diluted net income (loss)  per unit	$	0.43			$	(0.06	)		$	(0.34	)

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.21)
-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

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