2. Per Share Data

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Abstract]

Per Share Data

 (2) 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 and common stock equivalents outstanding. The average number of common shares outstanding for the three months ended March 31, 2013 and 2012 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 months ended March 31, 2013 and 2012, 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 months ended March 31, 2013 and 2012.

	Three Months Ended
	March 31, 2013			March 31, 2012
Net Loss	$	(1,655,000	)	$	(1,477,000	)
Preferred Dividends		(160,000	)		(160,000	)
Loss Available to Common Shareholders	$	(1,815,000	)	$	(1,637,000	)
Weighted Average Number Of Common Shares Outstanding		5,317,758			5,317,758
Basic and Diluted Loss Per Share	$	(.34	)	$	(.31	)