NOTE 4 - LOSS PER SHARE

The following table presents the shares used in the basic and diluted loss per common share computations:

	Three Months Ended June 30,				Six Months Ended June 30,				Period from April 23, 2002 (Inception) to June 30,
	2013		2012			2013		2012	2013
Numerator:
Net loss available in basic and diluted calculation	$	(1,175,535)	$	(2,135,775)	$	(3,277,061)	$	(2,849,142)	$	(22,568,172)

Denominator:
Weighted average common shares outstanding-basic		121,267,500		54,656,895		111,045,552		44,619,113		14,591,515

Effect of diluted stock options and warrants ⁽¹⁾

Weighted average common shares outstanding-diluted		121,267,500		54,656,895		111,045,552		44,619,113		14,591,515

Loss per common share-basic and diluted	$	(0.01)	$	(0.04)	$	(0.03)	$	(0.06)	$	(1.55)

(1) The number of shares underlying options and warrants outstanding as of June 30, 2013 and June 30, 2012 are 84,320,276 and 84,210,232 respectively. The effect of the shares that would be issued upon exercise of such options and warrants has been excluded from the calculation of diluted loss per share because those shares are anti-dilutive.