Note 13: Loss Per Share

Basic and diluted loss per share are the same for the fiscal years ended December 31, 2013 and 2012, since any additional common stock equivalents would be antidilutive. Potentially dilutive shares of common stock that have been excluded from the calculation of the weighted average number of dilutive common shares for the years ended December 31, 2013 and 2012 are as follows:

	Year Ended December 31,
	2013	2012

Preferred Stock	3,085,000	3,585,000
Convertible debentures	56,036,190	12,337,378
Options	15,075,000	19,491,667
Warrants	87,929,794	59,066,992
Total	162,125,984	94,481,037

The following table sets forth the computation of basic and diluted earnings per share and the additional income related to the change in fair value of derivative securities for the years ended December 31, 2013 and 2012:

	Year Ended
	December 31,
	2013		2012

Numerator:
Net loss for basic earnings per share	$	(2,749,645)	$	(9,092,598)
Subtractions:
Change in fair value of derivative securities		-		(2,230,476)
Net loss for diluted earnings per share	$	(2,749,645)	$	(11,323,074)

Denominator:
Weighted average shares outstanding		160,015,532		118,764,366
Assumed conversion of dilutive securities Conversion feature- debentures		-		13,515,850
Denominator for diluted earnings per share- adjusted weighted average shares		160,015,532		132,280,216

Loss per share
Basic	$	(0.02)	$	(0.08)
Diluted	$	(0.02)	$	(0.09)