7. Earnings per Share (Tables)

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Earnings (loss) per share of common stock

	For the Three Months Ended June 30,
	2013			2012
BASIC EARNINGS PER SHARE OF COMMON STOCK:
Net loss available to IPLO common stockholders	$	(5,145	)	$	(107,386	)
Weighted average common shares outstanding		4,961,357			4,961,357
Basic loss per share of common stock	$	(0.00	)	$	(0.02	)
DILUTED EARNINGS PER SHARE OF COMMON STOCK:
Net loss available to IPLO common stockholders	$	(5,145	)	$	(107,386	)
Weighted average common shares outstanding		4,961,357			4,961,357
Effect of dilutive securities:
Convertible preferred stock		–			–
Weighted average common shares outstanding after effect of dilutive securities		4,961,357			4,961,357
Diluted loss per share of common stock	$	(0.00	)	$	(0.02	)

	For the Six Months Ended June 30,
	2013			2012
BASIC EARNINGS PER SHARE OF COMMON STOCK:
Net earnings (loss) available to IPLO common stockholders	$	(33,259	)	$	39,304
Weighted average common shares outstanding		4,961,357			4,961,357
Basic earnings (loss) per share of common stock	$	(0.01	)	$	0.01
DILUTED EARNINGS PER SHARE OF COMMON STOCK:
Net earnings (loss) available to IPLO common stockholders	$	(33,259	)	$	39,304
Weighted average common shares outstanding		4,961,357			4,961,357
Effect of dilutive securities:
Convertible preferred stock		–			1,374,730
Weighted average common shares outstanding after effect of dilutive securities		4,961,357			6,336,087
Diluted earnings (loss) per share of common stock	$	(0.01	)	$	0.01