Earnings Per Share

12 Months Ended

Dec. 31, 2017

(13) Earnings Per Share

For the years ended December 31, 2017 and 2016, basic and diluted net income per share are calculated as follows:

	Year Ended December 31,
	2017		2016
Basic income per share
Net income for the period - numerator	$	1,659,788	$	7,312,976
Weighted average common stock outstanding - denominator		21,450,316		21,416,143

Net income per share	$	0.08	$	0.34

Diluted income per share
Net income for the period- numerator	$	1,659,788	$	7,312,976
Weighted average common stock outstanding - denominator		21,450,316		21,416,143

Effect of dilution		-		-
Weighted average common stock outstanding - denominator		21,450,316		21,416,143

Diluted income per share	$	0.08	$	0.34

For the years ended December 31, 2017 and 2016, 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 years ended December 31, 2017 and 2016 were lower than the warrants exercise price.