Net Loss per Share

3 Months Ended

Mar. 31, 2016

Notes to Financial Statements

Note 8 - Net Loss per Share

Basic net loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding during the reporting period. Diluted net loss per share is computed similarly to basic loss per share, except that it includes the potential dilution that could occur if dilutive securities are exercised.

The following table presents a reconciliation of the denominators used in the computation of net loss per share – basic and diluted:

	Three months ended March 31,
	2016			2015
Net loss available for stockholders	$	(2,534,801	)	$	(1,278,436	)
Weighted average outstanding shares of common stock		67,276,998			61,583,086
Dilutive effect of stock options and warrants		--			--
Common stock and equivalents		67,276,998			61,583,086
Net loss per share – Basic and diluted	$	(0.04	)	$	(0.02	)

Outstanding stock options and common stock warrants are considered anti-dilutive because we are in a net loss position.