4. Earnings Per Share

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements

4. Earnings Per Share

Basic earnings per share excludes dilution and is computed by dividing income available to common shareholders by the weighted-average number of shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock, except for periods when the Company reports a net loss because the inclusion of such items would be antidilutive.

The following is a reconciliation of the amounts used in calculating basic and diluted net loss per common share.

	Net Income		Shares		Per Share Amount
Basic net income per common share for the three months ended June 30, 2012:
Income available to common stockholders	$	51,444		11,199,782	$	0.00
Effect of dilutive stock options		-		11,800		-
Diluted net income per common share for the three months ended June 30, 2012:	$	51,444		11,211,582	$	0.00
Basic net income per common share for the six months ended June 30, 2012:
Income available to common stockholders	$	28,894		11,198,271	$	0.00
Effect of dilutive stock options		-		16,846		-
Diluted net income per common share for the six months ended June 30, 2012:	$	28,894		11,215,117	$	0.00
Basic net income per common share for the three months ended June 30, 2011:
Income available to common stockholders	$	47,282		11,196,760	$	0.00
Effect of dilutive stock options		-		16,706		-
Diluted net income per common share for the three months ended June 30, 2011:	$	47,282		11,213,466	$	0.00
Basic net income per common share for the six months ended June 30, 2011:
Income available to common stockholders	$	78,445		11,196,760	$	0.00
Effect of dilutive stock options		-		26,103		-
Diluted net income per common share for the six months ended June 30, 2011: