Note 6 – Loss Per Share

Basic loss per share is based on the weighted effect of all common shares issued and outstanding, and is calculated by dividing net loss attributable to common shareholders by the weighted average shares outstanding during the period. Diluted loss per share, which is calculated by dividing net loss attributable to common shareholders by the weighted average number of common shares used in the basic loss per share calculation plus the number of common shares that would be issued assuming conversion of all potentially dilutive securities outstanding, is not presented as such potentially dilutive securities are anti-dilutive in all periods presented. For the three months ended March 31, 2012 and 2011, the Company incurred net losses and therefore no common stock equivalents were utilized in the calculation of loss per share. At March 31, 2012 and 2011, the Company excluded the following potentially dilutive securities:

	March 31,
	2012		2011
Stock Options		21,402,957		15,080,095
Warrants		52,695,366		25,129,066
Series E Preferred Stock, Common stock equivalents		4,034,536		5,149,889
Restricted Shares		401,167		186,666