Net Income (loss) Per Share

3 Months Ended

Mar. 31, 2013

Net Income (loss) Per Share [Abstract]

Net Income (loss) Per Share

8. Net Income (loss) Per Share

Basic net income (loss) per common share is computed using the weighted-average number of common shares outstanding during the period.  Diluted net loss per common share is computed using the weighted-average number of common and dilutive common equivalent shares from stock options, warrants and convertible debt using the treasury stock method.  For all periods presented, diluted net loss per share is the same as basic net loss per share, as the inclusion of equivalent shares from outstanding common stock options, warrants and convertible debt would be anti-dilutive.

The following table sets forth the computation of basic and diluted net loss per share:

	2013			2012
Net income (loss)	$	(1,620,408	)	$	(1,093,652	)
Denominator for basic earnings per share - weighted average shares		93,128,466			74,872,122
Effect of dilutive securities: Stock options and warrants outstanding and convertible debt (a)		—			—
Denominator for diluted earnings per share - weighted average shares adjusted for dilutive securities		93,128,466			74,872,122
Income (loss) per common share - basic and diluted	$	(0.02	)	$	(0.01	)

(a) Securities outstanding that were excluded from the computiation, prior to the use of the treasury stock method, because they would have been anti-dilutive are as follows:

	Three months ended March 31,
	2013	2012
Outstanding Stock Options	16,022,703	12,517,000
Outstanding Warrants	2,344,002	7,891,567
Convertible Debt, promissory notes	—	5,131,018
Convertible Line of Credit with Related Party	—	1,358,931
Convertible Debt, Acquisition	—	1,059,836
	18,366,705	27,958,352