Note 3 - Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2017

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE

3:

EARNINGS/(LOSS) PER SHARE

Basic

income/(loss) per share was calculated using the weighted average number of shares outstanding of

147,865,246

for the year ended

December 31, 2017

and

145,868,227

for the year ended

December 31, 2016.

Antidilutive shares aggregating

43,343,224

for the year ended

December 31, 2017

and

43,775,016

for the year ended

December 31, 2016

have been omitted from the calculation of dilutive income/(loss) per share as the shares were antidilutive. The table below provides a reconciliation of anti-dilutive securities outstanding as of

December 31, 2017

and

December 31, 2016.

Anti-dilutive security	December 31, 2017		December 31, 2016
Employee stock options		4,225,000		275,000
Warrants		27,020,000		27,860,000
Convertible notes		11,980,000		15,490,000
Shares issuable for accrued interest		118,224		150,016
Total		43,343,224		43,775,016

The employee stock options are exercisable at prices ranging from

$0.

17

to

$0.34

per share.  The exercise price on the stock warrants range from

$0.25

to

$0.60

per share.  Shares issuable upon conversion of Convertible Debentures have conversion prices ranging from

$0.25

to

$1.25

 per share.

Provided below is the reconciliation between numerators and denominators of the basic and diluted income/(loss) per shares.

	For the year ended
	December 31, 2017						December 31, 2016
	Income/(loss)		Shares		Per-share		Income/(loss)		Shares		Per-share
	numerator		denominator		amount		numerator		denominator		amount
Basic EPS	$	2,967,218		147,865,246	$	0.02	$	101,880		145,868,227	$	0.00
Effect of dilutive securities		4,766		312,738		-0-		-0-		294,200		-0-
Diluted EPS	$	2,971,984		148,177,984	$	0.02	$	101,880		146,162,427	$	0.00