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BASIS OF PRESENTATION (TABLES)
9 Months Ended
Sep. 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 per share:

 

 

 

 

 

For the Three Months

 

 

For the Nine Months

 

 

 

Ended September 30,

 

 

Ended September 30,

 

 

 

2015

 

 

2014

 

 

2015

 

 

2014

 

 

 

(As restated)

 

 

 

 

 

(As restated)

 

 

 

 

Net income (loss)

 

$

2,931,724

 

 

$

(6,327,724

)

 

$

(9,157,571

)

 

$

(17,361,167

)

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

 

$

0.07

 

 

$

(0.15

)

 

$

(0.21

)

 

$

(0.40

)

Diluted income (loss) per share

 

$

0.07

 

 

$

(0.15

)

 

$

(0.21

)

 

$

(0.40

)