Note 6: Income Per Common Share

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Text Block]

Note 6: Income (Loss) Per Common Share

	For three months ended September 30, 2012								For nine months ended September 30, 2012
	Income Available to Common Shareholders			Average Common Shares Outstanding		Per Common Share			Income Available to Common Shareholders			Average Common Shares Outstanding		Per Common Share
Basic Income (Loss) Per Common Share	$	(915,718	)		2,717,789	$	(0.34	)	$	(416,176	)		2,712,446	$	(0.15	)
Effect of Dilutive Securities					-								-
Diluted Income (Loss) Per Common Share	$	(915,718	)		2,717,789	$	(0.34	)	$	(416,176	)		2,712,446	$	(0.15	)

	For three months ended September 30, 2011						For nine months ended September 30, 2011
	Income Available to Common Shareholders		Average Common Shares Outstanding		Per Common Share		Income Available to Common Shareholders		Average Common Shares Outstanding		Per Common Share
Basic Income Per Common Share	$	934,239		2,677,692	$	0.35	$	1,683,961		2,673,040	$	0.63
Effect of Dilutive Securities				-						-
Diluted Income Per Common Share	$	934,239		2,677,692	$	0.35	$	1,683,961		2,673,040	$	0.63

Due to the Company’s net loss available to common shareholders for the three and nine month periods ended September 30, 2012, no potentially dilutive shares were included in the computation of diluted loss per common share. Stock options to purchase 358,000 shares of common stock were outstanding during the three and nine months ended September 30, 2011, but were not included in the computation of diluted income per common share because their exercise prices were greater than the average market price of the common shares.   Stock warrants to purchase 459,459 shares of common stock were outstanding during the three and nine months ended September 30, 2011, and were included in the computation of diluted income per common share because their exercise price was less than the average market price of the common shares during those periods.