Derivative Warrant Liability

12 Months Ended

Dec. 31, 2012

Derivative Warrant Liability [Abstract]

DERIVATIVE WARRANT LIABILITY

NOTE 9 DERIVATIVE WARRANT LIABILITY

The Company has warrants outstanding to purchase an aggregate of 840,454 shares of Company common stock, which warrants require liability classification because of certain provisions that may result in an adjustment to their exercise price. The liability has been adjusted to fair value. The adjustments decreased liability (and increased other income) by $96,800 and $216,000 for the years ended December 31, 2012 and 2011, respectively.

The warrants will expire in June 2013. For the years ended 2012 and 2011, the Company excluded these warrants from diluted earnings per share as they were antidilutive.