Net Income (loss) Per Share

3 Months Ended

Mar. 31, 2014

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 March 31,
	2014			2013
Net income (loss)	$	(922,072	)	$	(1,620,408	)
Denominator for basic earnings per share - weighted average shares	105,358,694			93,128,466
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	105,358,694			93,128,466
Income (loss) per common share - basic and diluted	$	(0.01	)	$	(0.02	)

(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:

	Three months ended March 31,
	2014	2013
Outstanding Stock Options	17,142,303	16,022,703
Outstanding Warrants	267,816	2,344,002
Restricted Stock Awards	942,084	257,500
	18,352,203	18,624,205