Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (Tables)

v3.7.0.1
Earnings Per Share (Tables)
3 Months Ended
Mar. 31, 2017
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share
A reconciliation of the components of pro forma basic and diluted earnings per common share is presented in the table below:
 
 
Three Months Ended
 
 
March 31, 2016
Pro Forma C Corporation Data (unaudited):
 
 
Net loss, as reported
 
(21,130,434
)
Pro forma benefit for income taxes
 
(944,584
)
Pro forma net loss
 
(20,185,850
)
 
 
 
Basic loss per share:
 
 
Allocation of earnings:
 
 
Net loss
 
$
(20,185,850
)
Weighted average common shares outstanding
 
37,500,000

Basic loss per share
 
$
(0.54
)
 
 
 
Diluted loss per share:
 
 
Allocation of earnings:
 
 
Net loss
 
$
(20,185,850
)
Weighted average common shares, including dilutive effect (a)
 
37,500,000

Diluted loss per share
 
$
(0.54
)
(a) 
No incremental shares of potentially dilutive restricted stock awards were included for periods presented as their effect was antidulitive under the treasury stock method.
 
 
Three Months Ended March 31,
 
 
2017
 
2016
Basic loss per share:
 
 
 
 
Allocation of earnings:
 
 
 
 
Net loss
 
$
(4,936,514
)
 
$
(21,130,434
)
Weighted average common shares outstanding
 
37,500,000

 
30,000,000

Basic loss per share
 
$
(0.13
)
 
$
(0.70
)
 
 
 
 
 
Diluted loss per share:
 
 
 
 
Allocation of earnings:
 
 
 
 
Net loss
 
$
(4,936,514
)
 
$
(21,130,434
)
Weighted average common shares, including dilutive effect (a)
 
37,500,000

 
30,000,000

Diluted loss per share
 
$
(0.13
)
 
$
(0.70
)
(a) 
No incremental shares of potentially dilutive restricted stock awards were included for periods presented as their effect was antidulitive under the treasury stock method.