NET INCOME/(LOSS) PER SHARE

12 Months Ended

Dec. 31, 2011

NET INCOME/(LOSS) PER SHARE [Text Block]

NOTE 14.  NET LOSS PER SHARE

Basic loss per share is calculated by dividing net loss attributable to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted loss per share for years ended December 31, 2011 and 2010 is the same as basic loss per share. For the years ended December 31, 2011 and 2010, the following potential shares of common stock that would have been issuable have been excluded from the calculation of diluted loss per share because the effects, as a result of our net loss, would be anti-dilutive.

	December 31,
	2011		2010
Warrants		15,018,582		16,486,845
Options		500,000		-
Total		15,518,582		16,486,845

The following table represents the computation of basic and diluted losses per share at December 31, 2011 and 2010:
	December 31,		December 31,
	2011		2010
Net income (losses) available for common shareholders		326,652		(3,178,031	)
Basic weighted average common shares outstanding		72,975,351		60,661,835
Basic income (loss) per share		0.00		(0.05	)
Diluted weighted average common shares outstanding		94,149,715		60,661,835
Diluted income (loss) per share		0.00		(0.05)

Net loss per share is based upon the weighted average shares of common stock outstanding.