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Disclosure - Note 7 - Net income per share (Tables)

9 Months Ended

Sep. 30, 2012

Disclosure - Note 7 - Net Income Per Share Tables

Basic and diluted earnings per share

The following table sets forth the information needed to compute basic and diluted earnings per share:

		Three Months Ended September 30,								Nine Months Ended September 30,
		2012				2011				2012				2011

Basic net income (loss)		$	(107,317	)		$	(929,169	)		$	20,982			$	(3,436,403	)
Preferred Stock Dividends			(6,277	)			(6,277	)			(18,831	)			(18,831	)
Numerator for diluted net income (loss) per share			(113,594	)			(935,446	)			2,151				(3,455,234	)
Weighted average common shares outstanding:			30,917,270				29,364,488				30,209,356				25,976,950
Dilutive securities
Preferred Stock A, B, C, D			0				0				41,588,524				0
Options			0				0				1,410,505				0
Warrants			0				0				0				0
Diluted weighted average common shares outstanding and assumed conversion			30,917,270				29,364,488				73,208,384				25,976,950
Basic net income (loss) per share		$	0.00			$	(0.03	)		$	0.00			$	(0.13	)
Diluted net income (loss) per share		$	0.00			$	(0.03	)		$	0.00			$	(0.13	)

Anti-dilutive warrants

The following table sets forth the number of potential shares of common stock that have been excluded from diluted net income per share because their effect was anti-dilutive.

		Three Months Ended September 30,				Nine Months Ended September 30,
		2012		2011		2012		2011
Warrant		5,378,233		0		5,378,233		0

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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