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BASIS OF PRESENTATION (Tables)
9 Months Ended
Sep. 30, 2014
BASIS OF PRESENTATION (Tables)  
Presentation of the numerators and denominators used in the calculation of basic and diluted earnings per share

The following table is a presentation of the numerators and denominators used in the calculation of basic and diluted (loss) earnings per share:

 

 

 

For the Three Months

 

 

For the Nine Months

 

 

 

Ended September 30,

 

 

Ended September 30,

 

 

 

2014

 

 

2013

 

 

2014

 

 

2013

 

Net loss

 

$

(6,327,724

)

 

$

(2,302,031

)

 

$

(17,361,167

)

 

$

(9,578,163

)

Basic weighted-average common shares outstanding

 

 

43,579,557

 

 

 

43,579,557

 

 

 

43,579,557

 

 

 

43,579,557

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Warrants

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Options

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Diluted weighted-average common shares outstanding

 

 

43,579,557

 

 

 

43,579,557

 

 

 

43,579,557

 

 

 

43,579,557

 

Basic loss per share

 

$

(0.15

)

 

$

(0.05

)

 

$

(0.40

)

 

$

(0.22

)

Diluted loss per share

 

$

(0.15

)

 

$

(0.05

)

 

$

(0.40

)

 

$

(0.22

)