Loss Per Share

12 Months Ended

Dec. 31, 2011

Loss Per Share [Abstract]

LOSS PER SHARE

NOTE 9 — LOSS PER SHARE

As of December 31, 2011, 2010 and 2009, the Company only had one issued and outstanding class of stock – common stock. As a result, the basic earnings or loss per share for the years ended December 31, 2011, 2010 and 2009 is computed by dividing net loss by the weighted average number of common shares outstanding for the period.

The following table provides a reconciliation of the denominators of the Company’s reported basic and diluted earnings per share computation for the years ended December 31, 2011, 2010 and 2009, respectively:

	Years Ended December 31,
	2011		2010		2009
	(As Restated)
Weighted number of common shares — basic		10,521,910		9,067,834		8,512,060
Common stock equivalents		—		—		—
Weighted number of common and common equivalent shares — diluted		10,521,910		9,067,834		8,512,060

The computed loss per share does not assume conversion, exercise, or contingent exercise of securities that would have an anti-dilutive effect on loss per share. As the Company was in a net loss position for the years ended December 31, 2011, 2010 and 2009, all common stock equivalents in those years were anti-dilutive.

The following represents issuable weighted average share information for the respective periods:

	Years Ended December 31,
	2011		2010		2009
Common stock options		30,068		112,699		224,490
Common stock warrants		31,357		1,878		10,373
Unvested restricted stock		295		357		922
Total common stock equivalents		61,720		114,934		235,785

In addition, common stock options and unvested restricted stock of 634,901 and 1,332, respectively, were excluded from the calculation of net loss per share, as inclusion of such shares would be antidilutive due to exercise prices or value of proceed shares exceeding the average market price of the Company’s common stock during the year ended December 31, 2011. Common stock options, common stock warrants and unvested restricted stock of 560,451, 64,500 and 13,079, respectively, were excluded from the calculation of net loss per share, as inclusion of such shares would be antidilutive due to exercise prices or value of proceed shares exceeding the average market price of the Company’s common stock during the year ended December 31, 2010. Common stock options and unvested restricted stock of 389,778 and 32,676, respectively, were excluded from the calculation of net loss per share, as inclusion of such shares would be antidilutive due to exercise prices or value of proceed shares exceeding the average market price of the Company’s common stock during year ended December 31, 2009.

The Company did not declare or pay any dividends in 2011, 2010 and 2009.