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Average Share Information
6 Months Ended
Jun. 30, 2011
Average Share Information  
Average Share Information
15. Average Share Information

The following table summarizes the reconciliation of the numerators and denominators of the basic and diluted net loss per common share computations for the periods indicated.

 

    

For the three months ended

June 30,

   

For the six months ended

June 30,

 
     2011     2010     2011     2010  

Weighted average common shares outstanding - basic

     12,616,887        1,613,900        12,490,833        1,613,900   

Dilutive impact resulting from potential common share issuances

     —          —          —          —     
  

 

 

   

 

 

   

 

 

   

 

 

 

Weighted average common shares outstanding - diluted

     12,616,887        1,613,900        12,490,833        1,613,900   
  

 

 

   

 

 

   

 

 

   

 

 

 

Per Share Data

        

Net loss - basic

   $ (0.76   $ (5.29   $ (1.25   $ (8.57

Net loss - diluted

     (0.76     (5.29     (1.25     (8.57

Basic net income (loss) per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of shares of common stock outstanding during the period. For diluted net income per share, the denominator is increased to include the number of additional common shares that would have been outstanding if dilutive potential common shares had been issued. If dilutive, common stock equivalents are calculated for stock options and restricted stock shares using the treasury stock method. No potential common shares were included in the computation of the diluted loss per share amount for the three or six months ended June 30, 2011 and 2010 as inclusion would be anti-dilutive given the Company's net loss during the respective periods.

Reverse Stock Split

As disclosed in Note 11, Shareholders' Equity, the Company completed a one-for-four reverse split of its common stock effective June 28, 2011.