Note 7 - Earnings Per Share

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

7. Earnings Per Share

The Company reports earnings per share in accordance with appropriate accounting guidance. The following table sets forth the computation of basic and diluted earnings per common share:

	Three months ended March 31,
	2014			2013
Numerator:
Net loss applicable to common shareholders	$	(54,358	)	$	(1,013,630	)
Denominator:
Denominator for earnings per share (basic and diluted) ― weighted average shares		1,687,319			1,687,319
Net loss per share applicable to common shareholders (basic and diluted):	$	(0.03	)	$	(0.60	)

The Company had 12,000 stock options outstanding at March 31, 2013 which were not included in the weighted average shares computation for loss per share, as the common stock equivalents were anti-dilutive. The weighted average shares computation for loss per share at March 31, 2014 excludes preferred stock convertible into 134,528 shares of common stock because those common stock equivalents were anti-dilutive.