1. Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2014

Summary Of Significant Accounting Policies Tables

Basic and diluted earnings per share

The following table sets forth the calculation of basic and diluted earnings per share for the year ended December 31, 2012:

	Income (Numerator)			Shares (Denominator)		Per Share Amount
Net income	$	624,143
Less preferred stock dividends		(99,271	)
Earnings per share – basic		524,872			19,497,638	$	.03
Income available to common stockholders
Effect of dilutive securities
Options		-			213,606
Convertible preferred stock		99,271			366,666
Diluted earnings per share
Income available to common stockholders and assumed conversions	$	624,143			20,077,910	$	.03

The following table sets forth the calculation of basic and diluted earnings per share for the year ended December 31, 2013:

	Income (Numerator)			Shares (Denominator)		Per Share Amount
Net income	$	91,097
Less preferred stock dividends		(99,000	)
Earnings per share – basic		(7,903	)		19,533,201	$	-
Loss available to common stockholders
Effect of dilutive securities
Options		-			939,707
Convertible preferred stock		99,000			-
Diluted earnings per share
Income available to common stockholders and assumed conversions	$	91,097			20,472,908	$	.01

The following table sets forth the calculation of basic and diluted earnings per share for the year ended December 31, 2014:

	Income (Numerator)		Shares (Denominator)		Per Share Amount
Earnings per share – basic
Net income		1,590,196		19,870,904	$	.08
Effect of dilutive securities
Options		-		1,333,535
Diluted earnings per share
Net income	$	1,590,196		21,204,439	$	.07