4. Per Share Data:

9 Months Ended

Sep. 30, 2013

Notes to Financial Statements

4. Per Share Data:

Basic earnings (loss) per share is calculated by dividing net income (loss) by the weighted average outstanding common shares during the period. Diluted earnings per share is calculated by dividing net income by the number of shares outstanding under the basic calculation and adding all dilutive securities, which consist of options. There were no dilutive options for the nine months ended September 30, 2012. Accordingly, basic and diluted net income per common share are the same for such period. The Company incurred a net loss for the three and nine months ended September 30, 2013 and the three months ended September 30, 2012. Accordingly, basic and diluted net loss per common share are the same for each period as the effect of stock options is anti-dilutive. Shares of underlying stock options not included in the diluted computation amounted to 375,000 at September 30, 2013 and 478,200 at September 30, 2012.