| 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 |
|
|