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EXCEL - IDEA: XBRL DOCUMENT - Eagle Bulk Shipping Inc.Financial_Report.xls
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v2.4.0.6
Earnings Per Common Share
9 Months Ended
Sep. 30, 2012
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]

Note 8. Earnings Per Common Share

 

The computation of basic net loss per share is based on the weighted average number of common shares outstanding during the period. Weighted average shares outstanding for the period ended September 30, 2012, includes the weighted average underlying Warrant Shares issuable upon exercise of the 1,049,528 warrants at the exercise price of $0.01 per share. In accordance with the accounting literature, the Company has given effect to the issuance of these warrants in computing basic net loss per share because the underlying shares are issuable for little or no cash consideration. Diluted net loss per share gives effect to stock options and restricted stock units using the treasury stock method, unless the impact is anti-dilutive. Diluted net loss per share as of September 30, 2012 does not include 614,458 restricted stock units and 1,908,371 stock options as their effect was anti-dilutive.

 

    Three Months Ended     Nine Months Ended  
    September 30, 
2012
    September 30,
2011
    September 30,
2012
    September 30, 
2011
 
Net loss   $ (29,837,360 )   $ (5,872,211 )   $ (70,377,128 )   $ (13,120,770 )
Weighted Average Shares – Basic*     16,821,024       15,663,181       16,153,184       15,648,791  
Dilutive effect of stock options and restricted stock units                        
Weighted Average Shares – Diluted*     16,821,024       15,663,181       16,153,184       15,648,791  
Basic loss Per Share*   $ (1.77 )   $ (0.37 )   $ (4.36 )   $ (0.84 )
Diluted loss Per Share*   $ (1.77 )   $ (0.37 )   $ (4.36 )   $ (0.84 )

 

*Adjusted to give effect to the 1 for 4 reverse stock split that became effective on May 22, 2012, see Note 1.