NET LOSS PER COMMON SHARE

9 Months Ended

Sep. 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		Nine months ended		Three months ended		Nine months ended
	September 30, 2014		September 30, 2014		September 30, 2013		September 30, 2013
Denominator for basic net loss per share, weighted average shares outstanding		24,974,613		22,715,940		16,867,971		16,205,578
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		24,974,613		22,715,940		16,867,971		16,205,578

Due to the net loss incurred for the three and nine months ended September 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 1,692,500 and 572,000 shares of our common stock were outstanding at September 30, 2014 and 2013, respectively, 375 shares outstanding of Series C Convertible Preferred Stock, at September 30, 2014 and 2013, outstanding convertible debt of $2,839,000 and $2,901,000 at September 30, 2014 and 2013, respectively, and the warrants outstanding at September 30, 2014 were not included in the computation of diluted net loss per share because they were also anti-dilutive.