NET INCOME PER SHARE

12 Months Ended

Dec. 31, 2013

NET INCOME (LOSS) PER SHARE:

NOTE 14 - NET INCOME PER SHARE

Basic income per share is calculated by dividing net income attributable to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted income per share is calculated by dividing net income attributable to common stockholders by the weighted average fully diluted number of shares of common stock outstanding during the period. For the years ended December 31, 2013 and 2012, the following potential shares of common stock were included in the number of shares of common stock outstanding for the calculation of diluted income per share.

	December 31,
	2013		2012
Warrants		569,142		8,863,917
Options		176,000		1,200,000
Preferred Stock (as converted)		375,000		5,000,000
Total		1,120,142		15,063,917

The following table represents the computation of basic and diluted losses per share at December 31, 2013 and 2012:

	December 31,		December 31,
	2013		2012
Net income (losses) available for common shareholders		1,292,425		2,524,276
Basic weighted average common shares outstanding		7,830,909		74,465,509
Basic income (loss) per share		0.17		0.03
Diluted weighted average common shares outstanding		8,951,051		93,779,867
Diluted income (loss) per share		0.14		0.03

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