Loss Per Share

12 Months Ended

Dec. 31, 2011

Loss Per Share [Abstract]

Loss Per Share

16.          Loss Per Share:

The following is a summary of the calculations used in computing basic and diluted loss per share:

	2011			2010
Numerator:
Net Loss	$	(5,483,000	)	$	(4,930,000	)
Preferred Dividends		(640,000	)		(640,000	)
Loss Available to Common Shareholders	$	(6,123,000	)	$	(5,570,000	)
Denominator:
BASIC
Weighted average amount of shares outstanding		5,317,758			5,317,758
DILUTED
Weighted average amount of shares outstanding		5,317,758			5,317,758
Dilutive effect of assumed conversion of Preferred Stock		-			-
Dilutive common shares		5,317,758			5,317,758
Loss per share
Basic	$	(1.15	)	$	(1.05	)
Diluted		(1.15	)		(1.05	)