Earnings Per Share

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

7. Earnings Per Share

Basic earnings per share includes no dilution and is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect, in periods in which they have a dilutive effect, the effect of restricted stock-based awards and common shares issuable upon exercise of stock options and warrants. The difference between basic and diluted weighted-average common shares, results from the assumption that all dilutive stock options and warrants outstanding were exercised and have been converted into common stock. 

A reconciliation of shares used in calculating basic and diluted earnings per share follows:

	Three Months ended March 31,
	2013		2012
Basic		7,339,979		5,810,180
Effect of exercise of warrants		582,075		743,597
Effect of exercise of options		475		-
Diluted		7,922,529		6,553,777