Net Income (Loss) Per Share

6 Months Ended

Jun. 30, 2012

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

7.           Net Income (Loss) Per Share

Basic net income (loss) per share is computed by dividing the net income (loss) for the period by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share is computed by dividing the net income (loss) for the period by the weighted average number of common and potentially dilutive common shares outstanding during the period. Potentially dilutive common shares consist of the common shares issuable upon the exercise of stock options and warrants. Potentially dilutive common shares are excluded from the calculation if their effect is antidilutive. At June 30, 2012 there were options and warrants to purchase 8,032,500 and 1,160,607 shares of common stock, respectively, outstanding which could potentially dilute future net income (loss) per share. At June 30, 2011 there were warrants to purchase 1,044,584 shares of common stock outstanding which could potentially dilute future net income (loss) per share.

Basic and diluted net loss per share was calculated as follows:

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
	2012			2011			2012			2011
Net loss	$	(467,198	)	$	(335,488	)	$	(930,767	)	$	(585,109	)
Weighted average shares outstanding - basic		41,579,600			35,291,626			40,709,019			33,538,768
Dilutive effect of stock options and warrants		-			-			-			-
Weighted average shares outstanding - diluted		41,579,600			35,291,626			40,719,019			33,538,768
Net loss per share - basic and diluted	$	(0.01	)	$	(0.01	)	$	(0.02	)	$	(0.02	)