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Earnings Per Share | 9 Months Ended
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Sep. 30, 2018
Earnings Per Share [Abstract] |
Earnings Per Share | (13) Earnings Per Share For the three months ended September 30, 2018 and 2017, basic and diluted net income per share are calculated as follows:
|  | Three Months Ended September 30, |
|  | 2018 |  |  | 2017 |
Basic (loss) income per share |  |  |  |  |  |
Net (loss) income for the period - numerator |  | $ | (1,404,962 | ) |  | $ | 1,572,335 |
Weighted average common stock outstanding - denominator |  |  | 21,450,316 |  |  |  | 21,450,316 |
Net (loss) income per share |  | $ | -0.07 |  |  | $ | 0.07 |
Diluted income per share |  |  |  |  |  |  |  |
Net income for the period- numerator |  | $ | (1,404,962 | ) |  | $ | 1,572,335 |
Weighted average common stock outstanding - denominator |  |  | 21,450,316 |  |  |  | 21,450,316 |
Effect of dilution |  |  | - |  |  |  | - |
Weighted average common stock outstanding - denominator |  |  | 21,450,316 |  |  |  | 21,450,316 |
Diluted (loss) income per share |  | $ | (0.07 | ) |  | $ | 0.07 |
For the nine months ended September 30, 2018 and 2017, basic and diluted net income per share are calculated as follows:
|  | Nine Months Ended September 30, |
|  | 2018 |  |  | 2017 |
Basic (loss) income per share |  |  |  |  |  |
Net (loss) income for the period - numerator |  | $ | (5,381,244 | ) |  | $ | 3,296,121 |
Weighted average common stock outstanding - denominator |  |  | 21,450,316 |  |  |  | 21,450,316 |
Net (loss) income per share |  | $ | (0.25 | ) |  | $ | 0.15 |
Diluted (loss) income per share |  |  |  |  |  |  |  |
Net (loss) income for the period- numerator |  | $ | (5,381,244 | ) |  | $ | 3,296,121 |
Weighted average common stock outstanding - denominator |  |  | 21,450,316 |  |  |  | 21,450,316 |
Effect of dilution |  |  | - |  |  |  | - |
Weighted average common stock outstanding - denominator |  |  | 21,450,316 |  |  |  | 21,450,316 |
Diluted (loss) income per share |  | $ | (0.25 | ) |  | $ | 0.15 |
For the three and nine months ended September 30, 2018 and 2017, 820,312 warrants shares were excluded from the calculations of dilutive net income per share as their effects would have been anti-dilutive since the average share price was lower than the warrants exercise price. For the three and nine months ended September 30, 2018, there were no securities with dilutive effect issued and outstanding.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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