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Note 6 - Common and Preferred Stock and Earnings (Loss) per Share (Tables)

3 Months Ended

Mar. 31, 2013

Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]

		Shares				Weighted Average Exercise Price
Outstanding December 31, 2011			7,290,521			$	4.90
Warrants cancelled in 2012			(6,541,849	)			4.89
Warrants issued in 2012			6,659,780				5.00
Warrants exercised in 2012			(400,000	)			5.00
Outstanding December 31, 2012			7,008,452				5.00
Warrants granted 1st Quarter 2013			-
Warrants exercised 1st Quarter 2013			-
Outstanding March 31, 2013			7,008,452			$	5.00

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

(in thousands, except per share data)		For the Three Months Ended March 31,
		2013				2012
Net income (loss)		$	935			$	(831	)
Less earnings and dividends applicable to preferred stock:
Convertible preferred (Series A & C)			11				-
Non-convertible subsidiary-issued preferred stock			49				175
Net income allocated to all classes of preferred stock			60				175
Net income (loss) attributable to common stock		$	875			$	(1,006	)

Average common shares outstanding			8,155,066				7,755,066
Dilutive effect of outstanding stock-based awards and other potential common shares			-				-
Average common shares used for diluted EPS			8,155,066				7,755,066

Basic earnings (loss) per common share		$	0.11			$	(0.13	)
Diluted earnings (loss) per common share		$	0.11			$	(0.13	)

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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