Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.0.8
Earnings Per Share
 6 Months Ended
Jun. 30, 2013
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE
The following table sets forth the computation of basic and diluted earnings per share:
Earnings Per Share
 
For the Three Months Ended
 
For the Six Months Ended
 

June 30, 2013
 
May 31, 2012
 
June 30, 2013
 
May 31, 2012
 
Net income attributable to CORR Stockholders
$
70,072

 
$
1,976,760

 
$
2,482,825

 
$
7,723,801

 
Basic and diluted weighted average shares (1)
24,147,958

 
9,180,935

 
24,144,856

 
9,178,923

 
Basic and diluted earnings per share attributable to CORR Stockholders
$
—

 
$
0.22

 
$
0.10

 
$
0.84

 
(1)
Warrants to purchase shares of common stock were outstanding during the periods reflected in the table above, but were not included in the computation of diluted earnings per share because the warrants’ exercise price was greater than the average market value of the common shares and, therefore, the effect would be anti-dilutive.
The decrease in earnings per share for the three and six months ended June 30, 2013 as compared to the three and six months ended May 31, 2012 reflects the overall change in the business structure as the Company transitions out of securities-based transactions and into ownership and leasing of real property assets. Additionally, 14,950,000 shares were issued in the one-month transition period ended December 31, 2012.