NET INCOME (LOSS) PER COMMON SHARE (Tables)

6 Months Ended

Jun. 30, 2012

Net Income Loss Per Common Share Tables

Computation of basic and diluted loss per share

The table below presents the computation of basic and diluted earnings (loss) per share: 

(Amounts in thousands except share and per share amounts)	Three Months Ended June 30,						Six Months Ended June 30,
	2012			2011			2012			2011
Numerator for basic earnings (loss) per share:
Net income (loss)	$	1,051		$	3,522		$	(7,537	)	$	(4,336	)
Preferred dividends		(13	)		(99	)		(25	)		(202	)
Net income (loss) available to common shareholders	$	1,038		$	3,423		$	(7,562	)	$	(4,538	)
Numerator for diluted earnings (loss) per share:
Net income (loss) available to common shareholders	$	1,038		$	3,423		$	(7,562	)	$	(4,538	)
Preferred dividends		13			99			—			—
Interest expense on convertible debt		1			86			—			—
Net income (loss) for diluted earnings (loss) per share	$	1,052		$	3,608		$	(7,562	)	$	(4,538	)
Denominator for basic earnings (loss) per share — weighted-average shares outstanding		68,554,014			25,791,667			68,271,465			25,555,906
Effect of dilutive securities		13,911,199			34,252,751			—			—
Denominator for diluted earnings (loss) per share — weighted-average shares outstanding		82,465,213			60,044,418			68,271,465			25,555,906
Basic income (loss) per share:
Net income (loss)	$	0.02		$	0.14		$	(0.11	)	$	(0.17	)
Preferred dividends		(0.00	)		(0.01	)		(0.00	)		(0.01	)
Net income (loss) available to common shareholders	$	0.02		$	0.13		$	(0.11	)	$	(0.18	)
Diluted income (loss) per share:
Net income (loss)	$	0.01		$	0.06		$	(0.11	)	$	(0.18	)

The Company has excluded the following securities from the calculation of diluted loss per share, as their effect would have been antidilutive:

Dilutive securities	Three Months Ended June 30,				Six Months Ended June 30,
	2012		2011		2012		2011
Restricted stock		—		—		360,000		360,000
Convertible notes payable		—		—		64,719		11,618,077
Convertible preferred stock		46,028		56,574		47,885		11,412,822
Stock options		537,727		128,930		1,141,085		889,363
Warrants		954,029		417,916		13,748,783		10,476,145
Total dilutive securities		1,537,784		603,420		15,362,472		34,756,406