Three Months Ended

September 30,

Nine Months Ended

September 30,

2015

2014

2015

2014

Numerator:

Net loss available in basic and diluted calculation

$

(1,116,402

)

$

(1,115,221

)

$

(2,527,524

)

$

(4,468,170

)

Denominator:

Weighted average common shares outstanding-basic

3,936,126

2,984,335

3,435,700

2,967,483

Effect of diluted stock options and warrants (1)

-

Weighted average common shares outstanding-basic

3,936,126

2,984,335

3,435,700

2,967,483

Loss per common share basic and diluted

$

(0.28

)

$

(0.37

)

$

(0.74

)

$

(1.51

)