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BASIS OF PRESENTATION (TABLES)
6 Months Ended
Jun. 30, 2015
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 Six Months

 

 

 

Ended June 30,

 

 

Ended June 30,

 

 

 

2015

 

 

2014

 

 

2015

 

 

2014

 

 

 

(As restated)

 

 

 

 

 

(As restated)

 

 

 

 

Net income (loss)

 

$

1,127,322

 

 

$

(8,642,950

)

 

$

(6,846,621

)

 

$

(11,033,443

)

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 income (loss) per share

 

$

0.03

 

 

$

(0.20

)

 

$

(0.16

)

 

$

(0.25

)

Diluted income (loss) per share

 

$

0.03

 

 

$

(0.20

)

 

$

(0.16

)

 

$

(0.25

)