NET LOSS PER COMMON SHARE

6 Months Ended

Jun. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

2. Net Loss per Common Share

Net loss per common share for each of the three and six months ended June 30, 2012 and 2011 is based on the weighted-average number of shares of common stock outstanding during the respective periods. Basic and diluted loss per share are identical for all periods presented as potentially dilutive securities have been excluded from the calculation of the diluted net loss per common share because the inclusion of such securities would be antidilutive. The potentially dilutive securities include 17,073,500 shares and 20,679,931 shares in 2012 and 2011, respectively, reserved for the exercise of outstanding options and warrants.