Income (loss) Per Common Share

6 Months Ended

Jun. 30, 2012

Income (loss) Per Common Share

2.  Income (loss) Per Common Share

Basic income (loss) per common share amounts for the three and six months ended June 30, 2012 and 2011 were computed based on the weighted average number of common shares outstanding during the period. Diluted income (loss) per share adjusts for the dilutive effect of outstanding common stock options and warrants during the periods utilizing the treasury stock method. There were no common stock equivalents included in the diluted income (loss) per share calculation for the three and six months ended June 30, 2012 and 2011 as all outstanding options and warrants had a higher average exercise price than the average market price and were therefore anti-dilutive. Anti-dilutive common stock equivalents that were excluded in the diluted income (loss) per common share calculation for the six months ended June 30, 2012 and 2011 were 235,380 and 265,543, respectively.