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NET LOSS PER SHARE OF COMMON STOCK (Tables)
 6 Months Ended
Jun. 30, 2012
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Table Text Block] The following table reconciles the numerator and denominator for the calculation.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Three Months Ended June 30,

 

For the Six Months Ended June 30,

 

 

 

 

 

 

 

2012

 

2011

 

2012

 

2011

 

 

 

 

 

 

 

Basic and diluted net loss per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from continuing operations

 

$

(1,875,300

)

$

(1,653,076

)

$

(6,312,078

)

$

(4,293,504

)

Loss from discontinued operations

 

 

—

 

 

(136

)

 

—

 

 

(1,752

)

Preferred stock cash dividends

 

 

(96,424

)

 

(96,424

)

 

(192,848

)

 

(192,848

)

 

 

 

 

 

 

Numerator for basic and diluted earnings per share - Net loss available to common stockholders

 

$

(1,971,724

)

$

(1,749,636

)

$

(6,504,926

)

$

(4,488,104

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average basic and diluted shares outstanding

 

 

32,752,651

 

 

31,923,813

 

 

32,547,596

 

 

31,902,326

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted net loss per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from continuing operations

 

$

(0.06

)

$

(0.05

)

$

(0.19

)

$

(0.13

)

Loss from discontinued operations

 

 

—

 

 

(0.00

)

 

—

 

 

(0.00

)

Preferred stock cash dividends

 

 

(0.00

)

 

(0.00

)

 

(0.01

)

 

(0.01

)

 

 

 

 

 

 

Net loss available to common stockholders

 

$

(0.06

)

$

(0.05

)

$

(0.20

)

$

(0.14

)