WEIGHTED AVERAGE COMMON SHARES

3 Months Ended

Mar. 31, 2017

WEIGHTED AVERAGE COMMON SHARES [Abstract]

2.	WEIGHTED AVERAGE COMMON SHARES

The weighted average number of common shares used to compute basic and diluted loss per share for the three months ended March 31, 2017 and 2016 was as follows:

	Three Months Ended March 31,
	2017		2016
Basic shares outstanding		23,609,308		23,351,192
Dilutive effect of stock options		-		-
Diluted shares outstanding		23,609,308		23,351,192

For the three months ended March 31, 2017 and 2016, options to acquire 631,927 and 220,194 shares were excluded from the above table because the Company reported a net loss for each quarter and, therefore, their impact on reported loss per share would have been antidilutive. For the three months ended March 31, 2017 and 2016, options to acquire 180,667 and 316,525 shares were excluded from the above table because they have an exercise price that is greater than the average market price of the Company’s common stock and, therefore, their impact on reported income (loss) per share would have been antidilutive.