NET INCOME (LOSS) PER COMMON SHARE

3 Months Ended

Mar. 31, 2014

NET INCOME (LOSS) PER COMMON SHARE [Abstract]

NET INCOME (LOSS) PER COMMON SHARE

2.    NET INCOME (LOSS) PER COMMON SHARE

The following sets forth the denominator used in the calculations of basic net income (loss) per share and net income (loss) per share assuming dilution:

	Three months ended		Three months ended
	March 31, 2014		March 31, 2013
Denominator for basic net income (loss) per share, weighted average shares outstanding		20,036,240		15,588,693
Dilutive effect of common stock options		N/A		N/A
Dilutive effect of Series C convertible preferred stock, convertible debt and warrants		N/A		N/A
Denominator for diluted net income (loss) per share, weighted average shares outstanding		20,036,240		15,588,693

Due to the net loss incurred for the three months ended March 31, 2014, and March 31, 2013, the denominator used in the calculation of basic net loss per share was the same as that used for net loss per share, assuming dilution, since the effect of any options, convertible preferred shares, convertible debt or warrants would have been anti-dilutive. Options to purchase 1,409,000 and 1,367,000 shares of our common stock were outstanding at March 31, 2014 and 2013, respectively, 375 shares outstanding of Series C Convertible Preferred Stock, at March 31, 2014 and 2013, outstanding convertible debt of $3,117,000 and $2,040,000 at March 31, 2014 and 2013, respectively and the warrants outstanding at March 31, 2014 were not included in the computation of diluted net income (loss) per share because they were also anti-dilutive.