Per Share Information

12 Months Ended

Dec. 31, 2011

Earnings Per Share [Abstract]

Per Share Information

12.      Per Share Information

Loss per share

Basic loss per share of common stock is computed by dividing the net loss by the weighted-average number of shares of common stock outstanding.  Diluted loss per share of common stock (“Diluted EPS”) is computed by dividing the net loss by the weighted-average number of shares of common stock, and dilutive common stock equivalents and convertible securities then outstanding.  At December 31, 2011 and 2010, there were 15,217,578 and 8,544,000, respectively, of potentially dilutive common stock equivalents outstanding.  The 15,217,758 potentially dilutive common stock equivalents at December 31, 2011 arise from the issuance on December 7, 2011 of 45,000 Series B Preferred Shares convertible into 15 million shares and the issuance of the Rasel note convertible into 217,578 shares.  The 8,544,000 potentially dilutive common stock equivalents at December 31, 2010 arise from the issuance of the APH and ATL notes convertible into 6,044,000 and 2.5 million shares, respectively. The computation of Diluted EPS does not assume exercise or conversion of securities that would have an anti-dilutive effect on net loss per common share.