2. Net Income (Loss) Per Share

3 Months Ended

Mar. 31, 2015

Notes

2. Net Income (Loss) Per Share

2. Net Income (Loss) Per Share

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

	Three Months Ended  March 31, 2015	Three Months Ended March 31, 2014
Basic:
Net income (loss) available to common shareholders	$14,634	$(221,253)
Average common shares outstanding-basic	1,046,679	1,068,588
Net income (loss) per share-basic	$0.01	$(0.21)
Diluted:
Average common shares-diluted	1,046,679	1,068,588
Net income (loss) per share-diluted	$0.01	$(0.21)

Wells Fargo (formerly Wachovia Corporation) owned 241,666 shares of UBS Common Stock (50,000 voting shares); however, on February 18, 2015, Wells Fargo returned all shares (voting and non voting) for cancellation.

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.