Earnings Per Common Share (EPS)

9 Months Ended

Sep. 30, 2016

Earnings Per Common Share (EPS) [Abstract]

Earnings Per Share [Text Block]

12. Earnings Per Common Share (EPS)

The computations of basic and diluted EPS were as follows for the periods presented below:

	THREE MONTHS ENDED				NINE MONTHS ENDED
	SEPTEMBER 30,				SEPTEMBER 30,
	2016		2015		2016		2015
	(Unaudited)
Basic EPS Computation:
Net (loss) income	$	(148,040)	$	(1,763,280)	$	(1,704,480)	$	(4,330,667)
Weighted average number of common shares		82,730,134		82,515,103		82,673,570		82,130,665
Basic EPS	$	(0.00)	$	(0.02)	$	(0.02)	$	(0.05)
Diluted EPS Computation:
Net (loss) income	$	(148,040)	$	(1,763,280)	$	(1,704,480)	$	(4,330,667)
Weighted average number of common shares		82,730,134		82,515,103		82,673,570		82,130,665
Incremental shares from assumed conversions of stock options		-		-		-		-
Adjusted weighted average number of common shares		82,730,134		82,515,103		82,673,570		82,130,665
Diluted EPS	$	(0.00)	$	(0.02)	$	(0.02)	$	(0.05)

The dilutive effect of unexercised stock options and restricted stock awards excludes 2,115,668 and 1,857,668 of options from the computation of EPS for the three and nine month periods ended September 30, 2016 and 2015, respectively, because inclusion of the options would have been anti-dilutive.