Loss Per Share

6 Months Ended

Jun. 30, 2012

Loss Per Share [Abstract]

LOSS PER SHARE

NOTE 3 – LOSS PER SHARE

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2012			2011			2012			2011
(in thousands)
Net loss	$	(888	)	$	(2,269	)	$	(1,226	)	$	(2,140	)
Less: Accretion of discount on preferred stock		(18	)		(17	)		(35	)		(33	)
Dividends on preferred stock		(95	)		(95	)		(190	)		(190	)
Loss available to common shareholders	$	(1,001	)	$	(2,381	)	$	(1,451	)	$	(2,363	)

The number of shares used to compute basic and diluted loss per share were as follows:

Weighted Average Shares outstanding		1,245,267			1,245,267			1,245,267			1,245,267
Effect of dilutive securities:
Stock options		—			—			—			—
Shares used to compute diluted loss per share		1,245,267			1,245,267			1,245,267			1,245,267
Loss per share:
Basic	$	(0.80	)	$	(1.91	)	$	(1.16	)	$	(1.90	)
Diluted		(0.80	)		(1.91	)	$	(1.16	)	$	(1.90	)

There were 31,330 and 32,730 anti-dilutive shares at June 30, 2012 and 2011, respectively.