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Loss Per Share and Per Unit | 9 Months Ended
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Sep. 30, 2019
Earnings Per Share [Abstract] |
Loss Per Share and Per Unit | 13. Loss Per Share and Per Unit 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 loss would also be added back to net loss. The shares of the Series B Preferred Stock and Series C Preferred Stock and Series D Preferred Stock are not convertible into or exchangeable for any other property or securities of the Company, except upon the occurrence of a change of control and have been excluded from the diluted earnings per share calculation as there would be no impact on the current controlling stockholders. The non-committed, unearned ESOP shares are treated as reducing the number of issued and outstanding common shares and similarly reducing the weighted average number of common shares outstanding. The allocated and committed to be released shares have been included in the weighted average diluted earnings per share calculation, and the amount of compensation for allocated shares is reflected in net loss. There are no ESOP units, therefore there is no dilution on the calculation of earnings per unit. The computation of basic and diluted net loss per share is presented below.
|  | Three Months Ended |  |  | Three Months Ended |  |  | Nine Months Ended |  |  | Nine Months Ended |
|  | September 30, 2019 |  |  | September 30, 2018 |  |  | September 30, 2019 |  |  | September 30, 2018 |
|  | (unaudited) |  |  | (unaudited) |  |  | (unaudited) |  |  | (unaudited) |
Numerator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net loss available to common stockholders for basic and diluted computation |  | $ | (106,827 | ) |  | $ | (3,065,883 | ) |  | $ | (2,492,298 | ) |  | $ | (1,951,816 | )
Denominator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average number of common shares outstanding |  |  | 14,222,378 |  |  |  | 14,154,414 |  |  |  | 14,220,416 |  |  |  | 14,141,273 |
Weighted average number of Unearned ESOP Shares |  |  | (585,672 | ) |  |  | (640,418 | ) |  |  | (595,656 | ) |  |  | (649,466 | )
Total weighted average number of common shares outstanding for basic computation |  |  | 13,636,706 |  |  |  | 13,513,996 |  |  |  | 13,624,760 |  |  |  | 13,491,807 |
Basic net loss per share |  | $ | (0.01 | ) |  | $ | (0.23 | ) |  | $ | (0.18 | ) |  | $ | (0.14 | )
Income Per Unit – The computation of basic and diluted net loss per unit is presented below.
|  | Three Months Ended |  |  | Three Months Ended |  |  | Nine Months Ended |  |  | Nine Months Ended |
|  | September 30, 2019 |  |  | September 30, 2018 |  |  | September 30, 2019 |  |  | September 30, 2018 |
|  | (unaudited) |  |  | (unaudited) |  |  | (unaudited) |  |  | (unaudited) |
Numerator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net loss available to general and limited partnership unitholders for basic computation |  | $ | (120,164 | ) |  | $ | (3,451,499 | ) |  | $ | (2,803,940 | ) |  | $ | (2,197,114 | )
Denominator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average number of general and limited partnership units outstanding |  |  | 16,000,518 |  |  |  | 15,915,706 |  |  |  | 15,998,556 |  |  |  | 15,902,565 |
Basic and diluted net loss per general and limited partnership unit |  | $ | (0.01 | ) |  | $ | (0.22 | ) |  | $ | (0.18 | ) |  | $ | (0.14 | )

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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