Note 11 - Earnings (loss) Per Share

6 Months Ended

Jun. 30, 2014

Notes

Note 11 - Earnings (loss) Per Share

NOTE 11 – EARNINGS (LOSS) PER SHARE

The computation of basic earnings per common share is based on the weighted average number of shares outstanding during the period.  The computation of diluted earnings per common share is based on the weighted average number of shares outstanding during the period plus the weighted average common stock equivalents which would arise from the exercise of stock options, warrants and rights outstanding using the treasury stock method and the average market price per share during the period.

The shares used in the computation of our basic and diluted earnings per share are reconciled as follows for the three months and six months ended June 30, 2014 and 2013:

	Three Months Ended June 30,		Six Months Ended June 30,
	2014	2013	2014	2013
Weighted average number of shares outstanding - basic	451,298,074	381,502,066	442,741,935	375,848,287
Dilutive effect of stock options and warrants	4,492,308	-	5,005,714	-
Weighted average number of shares outstanding - diluted	455,790,382	381,502,066	447,747,649	375,848,287

At June 30, 2014, we had outstanding options and warrants to purchase a total of 24,950,000 common shares that could have a future dilutive effect on the calculation of earnings per share.