| Schedule of outstanding options |
The following is a summary of the changes in the Company’s outstanding options for the nine months ended September 30, 2017:
|
|
|
|
|
|
|
|
|
|
|
Number of Options |
|
Weighted Average Strike Price |
|
Weighted Average Life Remaining (in years) |
Balance at December 31, 2016 |
5,126,906 |
|
|
$ |
2.79 |
|
|
|
Expired |
(116,330 |
) |
|
13.13 |
|
|
|
Balance at September 30, 2017 |
5,010,576 |
|
|
$ |
2.55 |
|
|
5.84 |
|
|
|
|
|
|
Exercisable at September 30, 2017 |
3,858,081 |
|
|
$ |
2.58 |
|
|
5.86 |
|
| Schedule of outstanding options summary |
As of September 30, 2017, the Company’s outstanding options were summarized as follows:
|
|
|
|
|
|
|
|
Issued in 2011 and thereafter |
Held by the Manager |
|
3,857,748 |
|
Issued to the Manager and subsequently transferred to certain of the Manager’s employees |
|
1,152,495 |
|
Issued to the independent directors |
|
333 |
|
Total |
|
5,010,576 |
|
Weighted average strike price |
|
$ |
2.55 |
|
|
| Schedule of amounts used in computing basic and diluted EPS |
The following table shows the amounts used in computing basic and diluted EPS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
|
2017 |
|
2016 |
|
2017 |
|
2016 |
Numerator for basic and diluted earnings per share: |
|
|
|
|
|
|
|
(Loss) Income from continuing operations after preferred dividends and noncontrolling interests |
$ |
(1,864 |
) |
|
$ |
18,923 |
|
|
$ |
(22,314 |
) |
|
$ |
92,598 |
|
(Loss) Income Applicable to Common Stockholders |
$ |
(1,864 |
) |
|
$ |
18,923 |
|
|
$ |
(22,314 |
) |
|
$ |
92,598 |
|
|
|
|
|
|
|
|
|
Denominator: |
|
|
|
|
|
|
|
Denominator for basic earnings per share - weighted average shares |
66,932,744 |
|
|
66,730,583 |
|
|
66,883,291 |
|
|
66,688,962 |
|
Effect of dilutive securities |
|
|
|
|
|
|
|
Options |
— |
|
|
2,342,093 |
|
|
— |
|
|
2,064,570 |
|
Denominator for diluted earnings per share - adjusted weighted average shares |
66,932,744 |
|
|
69,072,676 |
|
|
66,883,291 |
|
|
68,753,532 |
|
|
|
|
|
|
|
|
|
Basic earnings per share: |
|
|
|
|
|
|
|
(Loss) Income from continuing operations per share of common stock, after preferred dividends and noncontrolling interests |
$ |
(0.03 |
) |
|
$ |
0.28 |
|
|
$ |
(0.33 |
) |
|
$ |
1.39 |
|
|
|
|
|
|
|
|
|
(Loss) Income Applicable to Common Stock, per share |
$ |
(0.03 |
) |
|
$ |
0.28 |
|
|
$ |
(0.33 |
) |
|
$ |
1.39 |
|
|
|
|
|
|
|
|
|
Diluted earnings per share: |
|
|
|
|
|
|
|
(Loss) Income from continuing operations per share of common stock, after preferred dividends and noncontrolling interests |
$ |
(0.03 |
) |
|
$ |
0.27 |
|
|
$ |
(0.33 |
) |
|
$ |
1.35 |
|
|
|
|
|
|
|
|
|
(Loss) Income Applicable to Common Stock, per share |
$ |
(0.03 |
) |
|
$ |
0.27 |
|
|
$ |
(0.33 |
) |
|
$ |
1.35 |
|
|