NET INCOME PER COMMON SHARE

9 Months Ended

Sep. 30, 2013

NET INCOME PER COMMON SHARE [Abstract]

NET INCOME PER COMMON SHARE

NET INCOME PER COMMON SHARE

Basic and diluted net income per common share is based on the net income attributable to common stockholders after preferred stock dividend requirements for the period, divided by the weighted average number of common and equivalent dilutive shares outstanding during the period. Potential common shares whose effect would be anti-dilutive have not been included. As of September 30, 2013, common shares that are or could be potentially dilutive include 1,308,208 stock options at exercise prices from $0.22 to $0.98 a share, 1,730,596 warrants to purchase common stock at exercise prices from $0.36 to $0.99 a share, 660,000 shares underlying our original series of preferred stock at a conversion rate of $1.00 per share and 1,236,160 shares underlying a second Series 2009 Preferred Stock at a conversion rate of $.70 per share. As of September 30, 2012, common shares that are or could be potentially dilutive include 1,819,208 stock options at exercise prices from $0.22 to $0.98 a share, 4,930,257 warrants to purchase common stock at exercise prices from $0.2796 to $0.9916 a share, 660,000 shares underlying our original series of preferred stock at a conversion rate of $1.00 per share, and 1,236,160 shares underlying a second Series 2009 Preferred Stock at a conversion rate of $.70 per share.