Earnings Per Share

3 Months Ended

Mar. 31, 2012

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE 7 EARNINGS PER SHARE

The following demonstrates the calculation for earnings per share for the three months ended March 31, 2012 and 2011:

	2012		2011
Net income	$	2,121,210	$	2,611,996
Weighted average number of common shares –Basic and diluted		14,761,687		14,753,871
Earnings per share –Basic and diluted	$	0.14	$	0.18

For each of the three months ended March 31, 2012 and 2011, the Company excluded 840,454 warrants outstanding from diluted earnings per share because the exercise price of $3.20 exceeded the average trading price of $1.75 and $2.15 for the three months ended March 31, 2012 and 2011, respectively, making these warrants anti-dilutive.