Note 2 - Loss Per Share

3 Months Ended

Sep. 30, 2011

Earnings Per Share [Text Block]

NOTE 2 --  LOSS PER SHARE

The following table sets forth the computation for basic and diluted loss per share for the periods indicated:

(in thousands, except share data)	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2011			2010			2011			2010
Numerator:
Net loss available to common stockholders	$	(19,146	)	$	(2,232	)	$	(20,978	)	$	(2,194	)
Denominator:
Basic earnings per share - weighted average common shares		3,330,080			3,313,029			3,328,041			3,309,869
Effect of dilutive securities - stock options		-			-			-			-
Diluted earnings per share - adjusted weighted average common shares		3,330,080			3,313,029			3,328,041			3,309,869
Net loss per share available to common stockholders:
Basic	$	(5.75	)	$	(0.67	)	$	(6.30	)	$	(0.66	)
Diluted	$	(5.75	)	$	(0.67	)	$	(6.30	)	$	(0.66	)

The following shares were not considered in computing diluted earnings per share for the three and nine month periods ended September 30, 2011 and 2010 because they were anti-dilutive:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2011		2010		2011		2010
Stock options to purchase shares of common stock		555,277		522,511		555,277		522,511
Average dilutive potential common shares associated with common stock warrants		155,025		155,025		155,025		155,025