Note 7 - Earnings Per Share

6 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

7. Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per common share for the six and three months ended June 30, 2014 and 2013:

	Six months ended June 30,
	2014			2013
Numerator:
Net loss applicable to common shareholders	$	(802,768	)	$	(1,276,614	)
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):	$	(0.48	)	$	(0.76	)

	Three months ended June 30,
	2014			2013
Numerator:
Net loss applicable to common shareholders	$	(748,410	)	$	(262,984	)
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):	$	(0.44	)	$	(0.16	)

The Company had 12,000 stock options outstanding at June 30, 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 June 30, 2014 excludes preferred stock convertible into 150,752 shares of common stock because those common stock equivalents were anti-dilutive.