| Summary of Quarterly Results of Operations |
The following table reflects the quarterly results of operations
for the years ended December 31, 2015 and 2014:
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| Fiscal Year 2015: |
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Quarter Ended |
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March 31, 2015 |
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June 30, 2015 |
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September 30, 2015 |
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December 31, 2015 |
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Operating revenues
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$ |
2,625,724 |
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$ |
2,783,853 |
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$ |
3,083,553 |
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$ |
3,408,331 |
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Operating expenses
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(1,671,211 |
) |
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(1,889,182 |
) |
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(1,915,900 |
) |
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(1,856,387 |
) |
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Other expenses
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(929,939 |
) |
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(924,960 |
) |
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(961,258 |
) |
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(1,184,079 |
) |
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Net income before income taxes
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24,574 |
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(30,289 |
) |
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206,395 |
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367,865 |
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Provision for income taxes
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— |
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— |
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— |
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— |
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Net income (loss)
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$ |
24,574 |
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$ |
(30,289 |
) |
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$ |
206,395 |
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$ |
367,865 |
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Earnings (loss) per weighted average common shares – basic
and diluted
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$ |
0.01 |
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$ |
— |
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$ |
0.02 |
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$ |
0.04 |
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Weighted average common shares outstanding – basic and
diluted
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7,753,717 |
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8,439,855 |
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9,060,314 |
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9,282,280 |
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| Fiscal Year 2014: |
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Quarter Ended |
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March 31, 2014 |
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June 30, 2014 |
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September 30, 2014 |
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December 31, 2014 |
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Operating revenues
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$ |
1,495,636 |
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$ |
1,565,935 |
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$ |
1,777,675 |
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$ |
2,345,676 |
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Operating expenses
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(1,100,452 |
) |
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(1,208,458 |
) |
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(1,476,092 |
) |
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(1,799,948 |
) |
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Other expenses
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(367,643 |
) |
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(651,948 |
) |
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(194,351 |
) |
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(484,661 |
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Net income before income taxes
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27,541 |
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(294,471 |
) |
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107,232 |
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61,067 |
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Provision for income taxes
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(6,623 |
) |
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(6,623 |
) |
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(6,857 |
) |
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(6,399 |
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Net income (loss)
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$ |
20,918 |
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$ |
(301,094 |
) |
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$ |
100,375 |
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$ |
54,668 |
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Earnings (loss) per weighted average common shares – basic
and diluted
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$ |
— |
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$ |
(0.05 |
) |
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$ |
0.02 |
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$ |
0.01 |
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Weighted average common shares outstanding – basic and
diluted
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6,530,264 |
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6,530,264 |
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6,605,264 |
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7,735,354 |
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