Net Loss Per Share

3 Months Ended

Mar. 31, 2012

Net Loss Per Share:

Net Loss Per Share

2. Net Loss Per Share

The calculation of net loss income per share follows:

	Three Months Ended March 31, 2012	Three Months Ended March 31, 2011
Basic:
Net loss available to common shareholders	($237,809)	($306,958)
Average common shares outstanding-basic	1,068,588	1,068,588
Net loss per share-basic	($0.22)	($0.29)
Diluted:
Average common shares-diluted	1,068,588	1,068,588
Net loss per share-diluted	($0.22)	($0.29)

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.