Earnings per Share
|6 Months Ended|
Jun. 30, 2017
|Earnings Per Share [Abstract]|
|Earnings Per Share [Text Block]||
Note 12 - Earnings per Share
The Successor’s computations of diluted EPS for the three and six-month periods ended June 30, 2017 excluded 800,000 potential shares related to the Preferred Stock due to its antidilutive effects under the if-converted method.
For the six months ended June 30, 2017, the Successor’s computation of diluted EPS also excluded 515,310 potential shares from warrants, which were “in the money” (i.e., the average market price exceeded the exercise price), but would have had an antidilutive effect under the treasury stock method for that period. Diluted EPS also excluded 5,915 potential shares in connection with 17,100 remaining UPOs (issued in 2014), which also would have had an antidilutive effect under the treasury stock method for the six months ended June 30, 2017.
Warrants to purchase 600,000 shares of common stock at $15.00 per share were outstanding but were not included in the computation of diluted EPS because the warrants’ exercise price was greater than the average market price of the shares of common stock during the period for the three months and six months ended June 30, 2017 (in accordance with ASC 260-10-55-3). These warrants, which expire on various dates through July 20, 2023, were still outstanding at June 30, 2017.
The Company has not presented predecessor earnings per member unit information because it is not meaningful or comparable to the required Successor EPS information, as well as the fact that Predecessor units were not publicly traded.
The entire disclosure for earnings per share.
Reference 1: http://www.xbrl.org/2003/role/presentationRef