Transition report pursuant to Rule 13a-10 or 15d-10

(LOSS) PER SHARE (Tables)

v3.5.0.1
(LOSS) PER SHARE (Tables)
3 Months Ended
Mar. 31, 2016
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Table Text Block]
The reconciliation of diluted (loss) per share for the year ended March 31, 2016 is presented below:
 
Numerator
 
 
 
 
Net income
 
$
1,036,148
 
Change in fair value of warrant derivative liability
 
 
(7,742,555)
 
Net (loss) used in computation of diluted EPS
 
$
(6,706,407)
 
 
 
 
 
 
Denominator
 
 
 
 
Basic weighted average number of shares outstanding
 
 
71,554,822
 
Warrants
 
 
8,429,435
 
Diluted weighted average number of shares outstanding
 
 
79,984,257
 
 
 
 
 
 
Diluted loss per share
 
$
(0.08)