Basic and Diluted Loss Per Common Share

6 Months Ended

Jun. 30, 2012

Basic and Diluted Loss Per Common Share [Abstract]

Basic and Diluted Loss Per Common Share

3. Basic and Diluted Loss Per Common Share

Basic and diluted loss per common share is computed based on the weighted average number of common shares outstanding. Loss per share excludes the impact of outstanding options and warrants and convertible preferred stock as they are antidilutive. Potential common shares excluded from the calculation at June 30, 2012 and 2011, respectively, relate to 24,432,814 and 24,348,302 from warrants, 15,140,956 and 11,290,956 from options, and 3,431,665 and 4,218,332 from convertible preferred shares. Included in the weighted average number of shares outstanding are 223,214 common shares committed to be issued but not outstanding at June 30, 2011.