NOTE 4 BASIC LOSS PER SHARE

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Text Block]

NOTE 4  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 periods of the consolidated financial statements as follows:

	For the Three Months Ended September 30,
	2012			2011
Numerator
- Loss before extraordinary items	$	(1,072,381	)	$	(485,040	)
- Extraordinary items		-			-
Denominator (weighted average number of common shares outstanding)		282,697,797			269,632,672
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	)

	For the Nine Months Ended September 30,
	2012			2011
Numerator
- Loss before extraordinary items	$	(3,041,730	)	$	(1,526,519	)
- Extraordinary items		-			-
Denominator (weighted average number of common shares outstanding)		280,103,399			264,562,692
Basic loss per share
- Before extraordinary items	$	(0.01	)	$	(0.01	)
- Extraordinary items	$	(0.00	)	$	(0.00	)
Basic Loss Per Share	$	(0.01	)	$	(0.01	)

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