Loss Per Share

3 Months Ended

Mar. 31, 2016

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 8 – Loss Per Share

The following table presents the calculation of loss per share for the three months ended March 31, 2016 and 2015:

	March 31 2016		March 31 2015
In thousands, except per share data
Numerator:
Net loss, as reported	$	(1,117)	$	(681)
Unpaid dividends accumulated on preferred shares		(49)		-
Net loss attributable to common shares	$	(1,166)	$	(681)
Denominator:
Weighted average shares outstanding		1,711		1,700
Basic and diluted loss per share	$	(0.68)	$	(0.40)

Basic loss per common share is computed by dividing net loss attributable to common shares by the weighted average number of common shares outstanding for the period. Diluted loss per common share is computed by dividing net loss attributable to common shares, by the weighted average number of common shares outstanding, adjusted for shares that would be assumed outstanding after warrants and stock options vested under the treasury stock method.

At March 31, 2016, the Company accumulated unpaid dividends of $72,000 related to the Series B Convertible Preferred Stock (“Preferred Stock”) issued in November 2015. There were no accumulated unpaid dividends related to Preferred Stock at March 31, 2015.

At March 31, 2016 and March 31, 2015, outstanding warrants convertible into 85,300 and 75,300 shares of Common Stock, respectively, were excluded from the calculation of diluted loss per share because their impact would have been anti-dilutive.