Earnings Per Share

6 Months Ended

Jun. 30, 2016

6. Earnings Per Share

Basic earnings per share (“EPS”) is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted EPS gives effect to all potentially dilutive common shares outstanding during the period, including stock options and warrants, using the treasury stock method. Diluted EPS excludes all potentially dilutive shares of common stock if their effect is anti-dilutive.

Shares used in calculating basic and diluted income (loss) per share are as follows:

	Three Months Ended June 30,					Six Months Ended June 30,
		2016		2015			2016		2015
Basic			18,671,648		14,850,874			18,565,198		14,462,305
Effect of exercise of warrants			-		971,873			-		971,873
Effect of exercise of stock options			-		141,228			-		141,228
Diluted			18,671,648		15,963,975			18,565,198		15,575,406

As a result of the net loss from continuing operations presented for the three and six months ended June 30, 2016, the Company calculated diluted earnings per share using basic weighted-average shares outstanding for those periods, as utilizing diluted shares would be anti-dilutive to loss per share.

The computation of diluted EPS excludes the common stock equivalents of the following potentially dilutive securities because their inclusion would be anti-dilutive:

	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Stock options and warrants		4,966,043		750,000		4,966,043		750,000