2. Per Share Data

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

Per Share Data

Basic per share amounts are computed by dividing net income (loss), after considering current period dividends on the Company's preferred stock, by the average number of common shares.  The average number of common shares outstanding for the three and nine months ended September 30, 2012 and 2011 was 5,317,758.

 Diluted per share amounts are computed by dividing net income (loss) by the average number of common shares outstanding, after adjusting for the estimated effect of the assumed conversion of all cumulative convertible preferred stock and collateralized convertible debentures into shares of common stock.  For the three and nine months ended September 30, 2012 and 2011, the assumed conversion of all cumulative convertible preferred stock and collateralized convertible debentures would have been anti-dilutive.

The following is a summary of the calculations used in computing basic and diluted loss per share for the three and nine months ended September 30, 2012 and 2011.

	Three Months Ended						Nine Months Ended
	September 30,  2012			September 30, 2011			September 30, 2012			September 30, 2011
Net Loss	$	(1,559,000	)	$	(1,397,000	)	$	(4,641,000	)	$	(4,055,000	)
Preferred Dividends		(160,000	)		(160,000	)		(480,000	)		(480,000	)
Loss Available to Common Shareholders	$	(1,719,000	)	$	(1,557,000	)	$	(5,121,000	)	$	(4,535,000	)
Weighted Average Number Of Common Shares Outstanding		5,317,758			5,317,758			5,317,758			5,317,758
Basic and Diluted Loss Per Share	$	(.32	)	$	(.29	)	$	(.96	)	$	(.85	)