Earnings per share

9 Months Ended

Sep. 30, 2012

Earnings per share [Abstract]

Earnings per share

18. Earnings per share

Basic earnings per common share are computed by dividing income available to common stockholders by the weighted-averages number of shares of common stock outstanding during the period. Diluted earnings per common share is computed by dividing income available to common stockholders by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares of common stock outstanding that would have been outstanding if the potentially dilutive securities had been issued. Potentially dilutive securities include outstanding stock options, warrants and restricted shares. The dilutive effect of potential dilutive securities is reflected in diluted earnings per common share by application of the treasury stock method. Under the treasury stock method, an increase in the fair market value of the Company's common stock can result in a greater dilutive effect from potentially dilutive securities. The Company excludes potential common stocks in the diluted earnings per share computation in periods of losses from continuing operations, as their effect would be anti-dilutive.

The following tables set forth the computation of basic and diluted earnings per common share for the three months ended September 30, 2012 and 2011, and the nine months ended September 30, 2012 and 2011.

	Three months ended September 30,					Nine months ended September 30,
	2012		2011			2012		2011
	(Unaudited)		(Unaudited)			(Unaudited)		(Unaudited)
	$		$			$		$
Numerator:
Net income attributable to the Company		644,362		(630,510	)		1,151,261		(596,767	)
Denominator:
Weighted-average shares outstanding		13,582,106		13,582,106			13,582,106		13,582,106
Effect of dilutive securities		-		-			-		-
Denominator:
Weighted-average shares diluted		13,582,106		13,582,106			13,582,106		13,582,106
Basic earnings per common share attributable to the Company		0.05		(0.05	)		0.08		(0.04	)
Diluted earnings per common share attributable to the Company		0.05		(0.05	)		0.08		(0.04	)

Diluted earnings per share takes into account the potential dilution that could occur if securities or other contracts to issue common stock were exercised and converted into common stock. Stock options totaled 680,000 shares that could potentially dilute earnings per share in the future which were not included in the fully diluted computation for the three and nine months ended September 30, 2012 because they would have been anti-dilutive since the stock's average market price did not exceed the exercise price. Warrants totaled 47,500 shares that could potentially dilute earnings per share which were not included in the fully diluted computation for the three and nine months ended September 30, 2012, since the stock's average market price did not exceed the exercise price.