Significant accounting policies (Tables)

6 Months Ended

Jun. 30, 2012

The following table sets forth the computation of basic and diluted net loss per share:

	Three months ended June 30,						Six months ended June 30,
	2012			2011			2012			2011
Net loss	$	(744,069	)	$	(2,503,505	)	$	(1,837,721	)	$	(5,851,067	)
Denominator for basic earnings per share - weighted average shares		79,952,542			71,819,017			77,416,073			71,098,976
Effect of dilutive securities: Stock options and warrants outstanding and convertible debt (a)		-			-			-			-

Denominator for diluted earnings per share - weighted average shares adjusted for dilutive securities		79,952,542			71,819,017			77,416,073			71,098,976

Loss per common share - basic and diluted	$	(0.01	)	$	(0.03	)	$	(0.02	)	$	(0.08	)

(a)

Securities outstanding that were excluded from the computation, because they would have been anti-dilutive are as follows:

	June 30, 2012		June 30, 2011
Outstanding Stock Options		12,794,250		10,434,667
Outstanding Warrants		7,763,817		8,023,917
Convertible Debt, promissory notes		5,186,933		-
Convertible Line of Credit with Related Party		1,375,137		1,300,000
Convertible Debt, Acquisition		1,069,808		1,250,000
		28,189,945		21,008,584