14. Net Loss Per Share

12 Months Ended

Dec. 31, 2013

Notes to Financial Statements

Note 14 - Net Loss Per Share

Basic net income or loss per common share is computed by dividing net income or loss for the period by the weighted - average number of common shares outstanding during the period.  Diluted income or loss per share is computed by dividing net income or loss for the period by the weighted - average number of common and common equivalent shares, such as stock options, warrants and convertible securities outstanding during the period.  Such common equivalent shares have not been included in the Company’s computation of net income (loss) per share when their effect would have been anti-dilutive based on the strike price as compared to the average trading price or due to the Company’s net losses attributable to common stockholders.

	2013			2012
Basic:
Numerator –net loss available to common stockholders	$	(7,916,046	)	$	(11,175,145	)
Denominator – weighted – average shares outstanding		24,052,686			14,057,162
Net loss per share – Basic and diluted	$	(0.33	)	$	(0.79	)
Incremental common shares (not included due to their anti-dilutive nature) :
Stock options		5,639,864			5,114,864
Stock warrants		19,112,360			16,249,985
Convertible preferred stock – Series B		1,160,000			1,160,000
Convertible preferred stock – Series C		7,142,856			7,142,856
Convertible preferred stock – Series D		18,001,392			10,894,685
		51,056,472			40,562,390