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BASIC AND DILUTED LOSS PER COMMON SHARE (TABLES) | 12 Months Ended
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Dec. 31, 2015
BASIC AND DILUTED LOSS PER COMMON SHARE (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 Year |
|  | Ended December 31, |
|  | 2015 |  |  | 2014 |
Net loss |  | $ | (15,405,518 | ) |  | $ | (39,550,760 | )
Basic weighted-average common shares outstanding |  |  | 43,579,557 |  |  |  | 43,579,557 |
Effect of dilutive securities: |  |  |  |  |  |  |  |
Warrants |  |  | - |  |  |  | - |
Options |  |  | - |  |  |  | - |
Diluted weighted-average common shares outstanding |  |  | 43,579,557 |  |  |  | 43,579,557 |
Basic loss per share |  | $ | (0.35 | ) |  | $ | (0.91 | )
Diluted loss per share |  | $ | (0.35 | ) |  | $ | (0.91 | )

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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