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Earnings Per Share
 9 Months Ended
Sep. 30, 2015
Earnings Per Share [Abstract]  
Earnings Per Share

(14) Earnings Per Share

 

For the three months ended September 30, 2015 and 2014, basic and diluted net income per share are calculated as follows:

 

    Three Months  Ended  
    September 30,  
    2015     2014  
Basic income per share            
Net income for the period - numerator   $ 1,685,897     $ 3,372,944  
Weighted average common stock outstanding - denominator     20,316,400       18,923,374  
Net income per share   $ 0.08     $ 0.18  
                 
Diluted income per share                
Net income for the period - numerator   $ 1,685,897     $ 3,372,944  
Weighted average common stock outstanding - denominator     20,316,400       18,923,374  
Effect of dilution    

11,603

       -  
Weighted average common stock outstanding - denominator     20,328,003       18,923,374  
Diluted income per share   $ 0.08     $ 0.18  

 

For the nine months ended September 30, 2015 and 2014, basic and diluted net income per share are calculated as follows:

 

    Nine Months  Ended  
    September 30,  
    2015     2014  
Basic income per share            
Net income for the period - numerator   $ 9,381,916     $ 9,478,346  
Weighted average common stock outstanding - denominator     20,316,400       18,909,001  
Net income per share   $ 0.46     $ 0.50  
                 
Diluted income per share                
Net income for the period - numerator   $ 9,381,916     $ 9,478,346  
Weighted average common stock outstanding - denominator     20,316,400       18,909,001  
Effect of dilution    

-

      

-

  
Weighted average common stock outstanding - denominator     20,316,400       18,909,001  
Diluted income per share   $ 0.46     $ 0.50  

 

For the three months and nine months ended September 30, 2014, 820,312 shares related to warrants are excluded from the calculations of dilutive net income per share as their effects would have been anti-dilutive since the average share price for the three months and nine months ended September 30, 2014 were lower than the warrants exercise price.

 

For the three months ended September 30, 2015, 39,062 shares related to warrants are excluded from the calculations of dilutive net income per share as their effects would have been anti-dilutive since the average share price for the three months ended September 30, 2015 were lower than the warrants exercise price. For the nine months ended September 30, 2015, 820,312 shares related to warrants are excluded from the calculations of dilutive net income per share as their effects would have been anti-dilutive since the average share price for the nine months ended September 30, 2015 were lower than the warrants exercise price.