Computation of Basic and Diluted Net Loss Per Share

6 Months Ended

Jun. 30, 2011

Computation of Basic and Diluted Net Loss Per Share [Abstract]

Computation of Basic and Diluted Net Loss Per Share [Text Block]

4.  Computation of Basic and Diluted Net Earnings (Loss) Per Share

Basic net earnings (loss) per share is computed using the weighted average number of common shares outstanding during the period, excluding any unvested restricted stock. Diluted net earnings (loss) per share is computed using the weighted average number of common shares, and if dilutive, potential common shares outstanding, as determined under the treasury stock and if-converted method, during the period. Potential common shares consist of unvested restricted stock, common shares issuable upon the exercise of stock options, common shares issuable upon the exercise of the Warrant and common shares issuable upon the conversion of the Note.  The following are the share amounts utilized to compute the basic and diluted net earnings (loss) per share for the three months and six months ended June 30, 2011 and 2010:

	Three Months Ended June 30,						Six Months Ended June 30,
	2011			2010			2011			2010
Basic shares:
Weighted average common shares outstanding		46,060,009			45,256,231			45,923,287			45,212,710
Weighted average unvested restricted stock		(68,160	)		(296,456	)		(88,672	)		(330,977	)
Basic shares		45,991,849			44,959,775			45,834,615			44,881,733
Diluted Shares:
Basic Shares		45,991,849			44,959,775			45,834,615			44,881,733
Weighted average dilutive securities		2,691,906			-			-			-
Dilutive Shares		48,683,755			44,959,775			45,834,615			44,881,733

For the three and six months ended June 30, 2011, 10.7 million and 13.3 million anti-dilutive potential shares of common stock have been excluded from the calculation of diluted loss per share, respectively.  For both the three and six months ended June 30, 2010, 3.8 million anti-dilutive potential shares of common stock have been excluded from the calculation of diluted earnings per share.