Note 8 - Earnings (Loss) Per Common Share

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 8. Earnings (Loss) Per Common Share

The computation of basic net income (loss) per share is based on the weighted average number of common shares outstanding during the period. Weighted average shares outstanding for the period ended March 31, 2014, includes the weighted average underlying Warrant Shares issuable upon exercise of the 177,783 warrants at the exercise price of $0.01 per share. In accordance with U.S. GAAP, the Company has given effect to the issuance of these warrants in computing basic net loss per share because the underlying shares are issuable for little or no cash consideration. Diluted net income (loss) per share gives effect to stock options and restricted stock units using the treasury stock method, unless the impact is anti-dilutive. Diluted net loss per share as of March 31, 2014, does not include 123,667 restricted stock units and 1,727,667 stock options as their effect was anti-dilutive. Diluted net income per share as of March 31, 2013, does not include 345,331 restricted stock units and 1,908,371 stock options as their effect was anti-dilutive.

	Three Months Ended
	March 31, 2014			March 31, 2013
Net income (loss)	$	(22,589,886	)	$	1,374,270
Weighted Average Shares – Basic		17,080,190			16,966,070
Dilutive effect of stock options and restricted stock units		—			—
Weighted Average Shares - Diluted		17,080,190			16,966,070
Basic Earnings (loss) Per Share	$	(1.32	)	$	0.08
Diluted Earnings (loss) Per Share	$	(1.32	)	$	0.08