Earnings Per Share

3 Months Ended

Mar. 31, 2012

Earnings Per Share

Earnings Per Share [Text Block]

Loss Per Share

Basic loss per share has been computed using the weighted average number of common shares outstanding and issuable during the period. Diluted loss per share is computed based on the weighted average number of common shares and all common equivalent shares outstanding during the period in which they are dilutive. Common equivalent shares consist of shares issuable upon the exercise of stock options, warrants or other convertible securities such as convertible notes. As of March 31, 2012 and March 31, 2011, common stock equivalents were comprised of warrants exercisable into 2,400,000 shares of the Company’s common stock.  For the nine and three months ended March  31, 2012 and 2011, and the period July 8, 2009 (inception) to March 31, 2012, common stock equivalent shares have been excluded from the calculation of loss per share as their effect is anti-dilutive.