NET LOSS PER SHARE

9 Months Ended

Sep. 30, 2015

Noncontrolling Interest [Abstract]

NOTE 9.NET LOSS PER SHARE

NOTE 9.  NET LOSS PER SHARE

Basic net loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding during the reporting period.  Diluted net loss per share is computed similarly to basic loss per share, except that it includes the potential dilution that could occur if dilutive securities are exercised.

The following table presents a reconciliation of the denominators used in the computation of net loss per share – basic and diluted:

		Three months ended September 30,				Nine months ended September 30,
		2015		2014		2015		2014
Net loss	$	(1,698,235)	$	(1,746,660)	$	(6,875,950)	$	(3,175,389)
Weighted average outstanding shares of common stock		14,399,029		13,545,738		13,847,561		13,476,962
Dilutive effect of stock options and warrants		--		--		--		--
Common stock and equivalents		14,399,029		13,545,738		13,847,561		13,476,962
Net loss per share – Basic and diluted	$	(0.12)	$	(0.13)	$	(0.50)	$	(0.24)

Outstanding stock options and common stock warrants are considered anti-dilutive because we are in a net loss position.  The following summarizes equity instruments that may, in the future, have a dilutive effect on earnings per share:

	September 30,
	2015	2014
Common stock upon conversion of debt	297,989	362,929
Stock options	1,017,500	--
Warrants	2,285,200	1,015,700
Stock payable	1,080,000	500,000
	4,680,689	1,878,629