EARNINGS (LOSS) PER SHARE

6 Months Ended

Jun. 30, 2015

EARNINGS (LOSS) PER SHARE [Abstract]

EARNINGS (LOSS) PER SHARE

7. EARNINGS (LOSS) PER SHARE

The Company computes basic Earnings (Loss) Per Share (“EPS”) based solely on the weighted average number of shares of its Common Stock outstanding during the period. Diluted EPS reflects all potential dilution of Common Stock. For the three and six months ended June 30, 2015, 4,100,728 and 4,759,705, respectively, shares attributable to outstanding options and equity warrants were excluded from the calculation of diluted EPS because the effect was antidilutive. For the three months ended June 30, 2015, 2,223,396 and 684,934 Liability Warrants were excluded from the calculation of diluted EPS because the effect was antidilutive. For the six months ended June 30, 2015, 1,538,462 Liability Warrants were included in the weighted average number of shares using the treasury stock method and the change in the derivative liability related to these warrants, which amounts to a gain of $295,000,  was excluded from the net loss for purpose of computing the diluted net loss per share. For the three and six months ended June 30, 2014, 865,000 shares attributable to outstanding options, were excluded from the calculation of diluted EPS because the effect was antidilutive.