NET LOSS PER COMMON SHARE

6 Months Ended

Jun. 30, 2014

NET LOSS PER COMMON SHARE [Abstract]

NET LOSS PER COMMON SHARE

2.    NET LOSS PER COMMON SHARE

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

	Three months ended		Six months ended		Three months ended		Six months ended
	June 30, 2014		June 30, 2014		June 30, 2013		June 30, 2013
Denominator for basic net loss per share, weighted average shares outstanding		23,082,699		21,567,885		16,146,013		15,868,892
Dilutive effect of common stock options		N/A		N/A		N/A		N/A
Dilutive effect of Series C convertible preferred stock, convertible debt and warrants		N/A		N/A		N/A		N/A
Denominator for diluted net loss per share, weighted average shares outstanding		23,082,699		21,567,885		16,146,013		15,868,892

Due to the net loss incurred for the three and six months ended June 30, 2014, and 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 1,708,500 and 1,367,000 shares of our common stock were outstanding at June 30, 2014 and 2013, respectively, 375 shares outstanding of Series C Convertible Preferred Stock, at June 30, 2014 and 2013, outstanding convertible debt of $2,970,000 and $2,630,000 at June 30, 2014 and 2013, respectively, and the warrants outstanding at June 30, 2014 were not included in the computation of diluted net loss per share because they were also anti-dilutive.