Earnings Per Common Share (EPS)

6 Months Ended

Jun. 30, 2015

Earnings Per Common Share (EPS) [Abstract]

Earnings Per Share [Text Block]

13. Earnings Per Common Share (EPS)

The computations of basic and diluted EPS were as follows for the periods presented below:

	THREE MONTHS ENDED				SIX MONTHS ENDED
	JUNE 30,				JUNE 30,
	2015		2014		2015		2014
	(Unaudited)				(Unaudited)
Basic EPS Computation:
Net (loss) income	$	(1,409,628)	$	(669,239)	$	(2,567,387)	$	(1,595,937)
Weighted average number of common shares		82,124,603		72,998,461		81,935,259		69,929,300
Basic EPS	$	(0.017)	$	(0.009)	$	(0.031)	$	(0.023)
Diluted EPS Computation:
Net (loss) income	$	(1,409,628)	$	(669,239)	$	(2,567,387)	$	(1,595,937)
Weighted average number of common shares		82,124,603		72,998,461		81,935,259		69,929,300
Incremental shares from assumed conversions of stock options		-		-		-		-
Adjusted weighted average number of common shares		82,124,603		72,998,461		81,935,259		69,929,300
Diluted EPS	$	(0.017)	$	(0.009)	$	(0.031)	$	(0.023)

The dilutive effect of unexercised stock options excludes 503,511 and 1,147,115 of options from the computation of EPS for the three month periods ended June 30, 2015 and 2014, respectively, because inclusion of the options would have been anti-dilutive. The dilutive effect of unexercised stock options excludes 595,709 and 1,154,805 of options from the computation of EPS for the six month periods ended June 30, 2015 and 2014, respectively, because inclusion of the options would have been anti-dilutive.