14. Loss per Share

6 Months Ended

Jun. 30, 2013

Loss per share:

14. Loss per Share

The following table presents the computations of basic and dilutive loss per share:

	For the three months ended June 30, 2013			For the six months ended June 30, 2013
Net Income (Loss)	$	(3,916,075	)	$	(4,974,534	)
Net income (loss) per share:
Net income (loss) per share – basic	$	(0.06	)	$	(0.08	)
Net income (loss) per share – diluted	$	(0.06	)	$	(0.08	)
Weighted average common shares outstanding – basic & diluted		65,540,474			62,920,596

For the three and six months ended June 30, 2013 common stock equivalents totaling 47,298,909 and 47,297,909,respectively, related to warrants, convertible debt and preferred stock were excluded from the calculation of the diluted net loss per share as their effect would have been antidilutive.

	For the three months ended June 30, 2012		For the six months ended June 30, 2012
Net Income (Loss)	$	11,001,568	$	1,532,720
Net income (loss) per share:
Net income (loss) per share – basic	$	.40	$	.06
Net income (loss) per share – diluted	$	.17	$	.02
Weighted average common shares outstanding – basic		27,810,172		25,298,312
Weighted average common shares outstanding – diluted		63,922,597		61,391,011