NOTE 3 BASIC LOSS PER SHARE

3 Months Ended

Mar. 31, 2012

Earnings Per Share [Text Block]

NOTE 3     BASIC LOSS PER SHARE

The computations of basic loss per share of common stock are based on the weighted average number of common shares outstanding during the period of the consolidated financial statements as follows:

	For the Three Months Ended March 31,
	2012			2011
Numerator
- Loss before extraordinary items	$	(1,412,061	)	$	(505,192	)
- Extraordinary items		-			-
Denominator (weighted average number of shares outstanding)		277,646,110			259,672,606
Basic loss per share
- Before extraordinary items	$	(0.00	)	$	(0.00	)
- Extraordinary items		0.00			0.00
Basic loss per share	$	(0.00	)	$	(0.00	)

Common stock equivalents, consisting of warrants and options, have not been included in the calculation as their effect is antidilutive for the periods presented.