Net (Loss) Income Per Share

9 Months Ended

Sep. 30, 2011

Net (Loss) Income Per Share

3. Net (Loss) Per Share

The calculation of net (loss) income per share follows:

	Three Months Ended     September 30, 2011	Three Months Ended September 30, 2010	Nine Months Ended   September 30, 2011	Nine Months Ended   September 30, 2010
Basic:
Net (loss) income available to common shareholders	($281,054)	$46,015	($757,807)	($705,819)
Average common shares outstanding-basic	1,065,588	1,065,588	1,065,588	1,065,588
Net (loss) income per share-basic	($0.26)	$0.04	($0.71)	($0.66)
Diluted:
Average common shares-diluted	1,065,588	1,065,588	1,065,588	1,065,588
Net (loss) income per share-diluted	($0.26)	$0.04	($0.71)	($0.66)

The preferred stock is non cumulative and the Company is restricted from paying dividends.  Therefore, no effect of the preferred stock is included in the loss per share calculations.