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Earnings (Loss) Per Share
 3 Months Ended
Mar. 31, 2013
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share
Earnings (Loss) Per Share
We compute net income (loss) per share by dividing the net income (loss) for the period by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share is computed by dividing the net income (loss) for the period by the weighted average number of common and common equivalent shares outstanding during the period. We consider common equivalent shares from the exercise of stock options and warrants in the instance where the shares are dilutive to net income (loss). The effects of stock options and, warrants were anti-dilutive for all periods presented.













The following table sets forth the computation of basic and diluted earnings (loss) per share:
 
 
 
Three months ended March 31,
 
 
2012
 
2013
Numerators for basic and diluted loss per share data:
 
 
 
 
Net loss from continuing operations
 
$
(7,391,602
)
 
$
(5,195,757
)
Net loss from discontinued operations
 
(423,288
)
 
(1,708,163
)
Net loss
 
$
(7,814,890
)
 
$
(6,903,920
)
Denominator for basic and diluted loss per share data—weighted-average shares
 
29,503,356

 
48,356,602

Basic and diluted per share data:
 
 
 
 
Net loss from continuing operations
 
$
(0.25
)
 
$
(0.11
)
Net loss from discontinued operations
 
(0.01
)
 
(0.03
)
Net loss
 
$
(0.26
)
 
$
(0.14
)

For the three months ended March 31, 2012 and 2013, shares of common stock potentially issuable upon the exercise of options and warrants in addition to shares potentially issuable in satisfaction of term note obligations, were excluded in the computation of diluted per share data, as the effects would be anti-dilutive.