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Exhibit 11
STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS | ||||||||||||
The composition of basic and diluted earnings per share was as follows for: | ||||||||||||
Year Ended December 31, | ||||||||||||
2007 | 2006 | 2005 | ||||||||||
Net income available to common stockholders | $ | 8,408 | $ | 2,717 | $ | - | ||||||
Weighted average number of common shares outstanding | 26,700,000 | 26,700,000 | 5,625,000 | |||||||||
Effect of warrants | 5,586,996 | 5,118,772 | 0 | |||||||||
Weighted average diluted number of common shares outstanding | 32,286,996 | 31,818,772 | 5,625,000 | |||||||||
Basic earnings per share | $ | 0.31 | $ | 0.10 | $ | - | ||||||
Diluted earnings per share | $ | 0.26 | $ | 0.09 | $ | - | ||||||