3. Earnings per Share (Tables) | 6 Months Ended |
Jun. 30, 2014 |
Earnings Per Share Tables | ' |
Earnings Per Share | ' |
The following table sets forth the calculation of basic and diluted earnings per share for the three-month and six-month periods ended June 30, 2013: |
|
|
| | Three Months Ended June 30, 2013 | |
| | Income | | | Shares | | | Per-Share | |
(Numerator) | (Denominator) | Amount |
Net income | | $ | 455,622 | | | | 19,516,589 | | | $ | 0.02 | |
Less preferred stock dividends | | | (24,411 | ) | | | | | | | | |
| | | | | | | | | | | | |
Earnings per share - basic | | | | | | | | | | | | |
Income available to common stockholders | | | 431,211 | | | | | | | $ | 0.02 | |
| | | | | | | | | | | | |
Effect of dilutive securities | | | | | | | | | | | | |
Options | | | | | | | 407,677 | | | | | |
Convertible preferred stock | | | 24,411 | | | | 366,666 | | | | | |
| | | | | | | | | | | | |
Dilutive earnings per share | | | | | | | | | | | | |
Income available to common stockholders and | | $ | 455,622 | | | | 20,290,932 | | | $ | 0.02 | |
assumed conversions |
|
|
|
| | Six Months Ended June 30, 2013 | |
| | Income | | | Shares | | | Per-Share | |
(Numerator) | (Denominator) | Amount |
Net income | | $ | 873,952 | | | | 19,516,589 | | | $ | 0.04 | |
Less preferred stock dividends | | | (49,364 | ) | | | | | | | | |
| | | | | | | | | | | | |
Earnings per share - basic | | | | | | | | | | | | |
Income available to common stockholders | | | 824,588 | | | | | | | $ | 0.04 | |
| | | | | | | | | | | | |
Effect of dilutive securities | | | | | | | | | | | | |
Options | | | | | | | 407,677 | | | | | |
Convertible preferred stock | | | 49,364 | | | | 366,666 | | | | | |
| | | | | | | | | | | | |
Dilutive earnings per share | | | | | | | | | | | | |
Income available to common stockholders and | | $ | 873,972 | | | | 20,290,932 | | | $ | 0.04 | |
assumed conversions |
|
The following table sets forth the calculation of basic and diluted earnings per share for the three-month and six-month periods ended June 30, 2014: |
|
| | Three Months Ended June 30, 2014 | |
| | Income | | | Shares | | | Per-Share | |
(Numerator) | (Denominator) | Amount |
Net income | | $ | 503,396 | | | | 19,801,087 | | | $ | 0.03 | |
| | | | | | | | | | | | |
Effect of dilutive securities | | | | | | | | | | | | |
Options | | | - | | | | 1,281,466 | | | | - | |
| | | | | | | | | | | | |
Dilutive earnings per share | | | | | | | | | | | | |
Net income | | $ | 503,396 | | | | 21,082,553 | | | $ | 0.02 | |
|
|
| | Six Months Ended June 30, 2014 | |
| | Income | | | Shares | | | Per-Share | |
(Numerator) | (Denominator) | Amount |
Net income | | $ | 942,151 | | | | 19,786,507 | | | $ | 0.05 | |
| | | | | | | | | | | | |
Effect of dilutive securities | | | | | | | | | | | | |
Options | | | - | | | | 1,281,466 | | | | - | |
| | | | | | | | | | | | |
Dilutive earnings per share | | | | | | | | | | | | |
Net income | | $ | 942,151 | | | | 21,067,973 | | | $ | 0.04 | |