Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v3.7.0.1
EARNINGS PER SHARE
6 Months Ended
Jun. 30, 2017
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
12. EARNINGS PER SHARE
 
Basic earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted-average number of common shares and dilutive potential common shares outstanding during the period.
 
 
 
For the Three Months Ended
 
For the Six Months Ended
 
 
 
June 30,
 
June 30,
 
 
 
2017
 
2016
 
2017
 
2016
 
 
 
(Unaudited)
 
(Unaudited)
 
(Unaudited)
 
(Unaudited)
 
Numerator:
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income
 
$
246,119
 
 
1,116,843
 
$
1,119,658
 
 
2,212,895
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted-average shares outstanding
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted-average shares outstanding - Basic
 
 
11,188,882
 
 
10,632,276
 
 
10,963,724
 
 
10,632,276
 
Stock options and restricted shares
 
 
228,004
 
 
679,109
 
 
752,564
 
 
600,713
 
Weighted-average shares outstanding - Diluted
 
 
11,416,886
 
 
11,311,385
 
 
11,716,288
 
 
11,232,989
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings per share
 
 
 
 
 
 
 
 
 
 
 
 
 
-Basic
 
 
0.02
 
 
0.11
 
 
0.10
 
 
0.21
 
-Diluted
 
 
0.02
 
 
0.10
 
 
0.10
 
 
0.20
 
 
Diluted earnings per share takes into account the potential dilution that could occur if securities or other contracts to issue common stock were exercised and converted into common stock.
 
There were dilutive effects of 487,000 shares for the six months period ended June 30, 2017 and 2016. The 487,000 restricted shares of Common Stock (the “Compensation Shares”) related to the Consulting Agreement with Regeneration Capital Group, LLC (“Regeneration”) were placed in an escrow account and were subject to Regeneration’s performance condition. The shares were released from escrow account and transferred to Regeneration since the Company successfully listed on NYSE on March 22, 2017.