Net Income (loss) Per Share

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Net Income (loss) Per Share

Net Income (loss) Per Share

Basic net income (loss) per common share is computed using the weighted-average number of common shares outstanding during the period.  Diluted net loss per common share is computed using the weighted-average number of common and dilutive common equivalent shares from stock options, warrants and convertible debt using the treasury stock method.  For all periods presented, diluted net loss per share is the same as basic net loss per share, as the inclusion of equivalent shares from outstanding common stock options, warrants and convertible debt would be anti-dilutive.

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

	Three months ended September 30,						Nine months ended  September 30,
	2013			2012			2013			2012
Net income (loss)	$	(307,118	)	$	(4,219,372	)	$	(2,684,915	)	$	(6,057,092	)
Denominator for basic earnings per share - weighted average shares	96,914,856			84,493,164			95,429,988			84,091,014
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	96,914,856			84,493,164			95,429,988			84,091,014
Income (loss) per common share - basic and diluted	$	—		$	(0.05	)	$	(0.03	)	$	(0.07	)

(a) Securities outstanding that were excluded from the computation, prior to the use of the treasury stock method, because they would have been anti-dilutive are as follows:

	Nine months ended September 30,
	2013	2012
Outstanding Stock Options	15,139,543	12,642,833
Outstanding Warrants	1,923,669	3,241,668
Convertible Debt, promissory notes	—	5,313,133
Convertible Line of Credit with Related Party	—	1,391,524
	17,063,212	22,589,158