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EARNINGS PER SHARE (Tables)
 6 Months Ended
Jun. 30, 2013
EARNINGS PER SHARE  
Reconciliation of net loss and common shares outstanding used in the calculation of basic and diluted net loss per share

For the Three Months
Ended June 30,

 

For the Six Months
Ended June 30,

 

 

 

2013

 

2012

 

2013

 

2012

 

Basic net income (loss) per share:

 

 

 

 

 

 

 

 

 

Net earnings (loss) from continuing operations

 

$

(512,873

)

$

831,207

 

$

(1,091,930

)

$

1,266,731

 

Net loss from discontinued operations

 

(63,922

)

(556,510

)

(154,425

)

(7,560,045

)

 

 

 

 

 

 

 

 

 

 

Net earnings (loss)

 

$

(576,795

)

$

274,697

 

$

(1,246,355

)

$

(6,293,314

)

Noncontrolling interest

 

—

 

21,436

 

—

 

26,453

 

Attributable to preferred stockholders

 

—

 

(129,267

)

—

 

(258,539

)

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to common stockholders

 

$

(576,795

)

$

166,866

 

$

(1,246,355

)

$

(6,525,400

)

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding, basic

 

26,706,239

 

24,903,298

 

26,681,948

 

26,187,929

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share:

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

(0.02

)

$

0.03

 

$

(0.04

)

$

0.05

 

Discontinued operations

 

$

(0.00

)

$

(0.02

)

$

(0.01

)

$

(0.29

)

Net income (loss)

 

$

(0.02

)

$

0.01

 

$

(0.05

)

$

(0.24

)

Net loss attirbutable to noncontrolling interest

 

$

—

 

$

—

 

$

—

 

$

—

 

Attributable to preferred shareholders

 

$

—

 

$

(0.01

)

$

—

 

$

(0.01

)

Net income (loss) attributable to common stockholders

 

$

(0.02

)

$

0.01

 

$

(0.05

)

$

(0.25

)

 

 

 

 

 

 

 

 

 

 

Diluted net income (loss) per share:

 

 

 

 

 

 

 

 

 

Net earnings (loss) from continuing operations

 

$

(512,873

)

$

831,207

 

$

(1,091,930

)

$

1,266,731

 

Net loss from discontinued operations

 

(63,922

)

(556,510

)

(154,425

)

(7,560,045

)

 

 

 

 

 

 

 

 

 

 

Net earnings (loss)

 

$

(576,795

)

$

274,697

 

$

(1,246,355

)

$

(6,293,314

)

Noncontrolling interest

 

—

 

21,436

 

—

 

26,453

 

Plus: income impact of assumed conversions

 

 

 

 

 

 

 

 

 

Attributable to preferred stockholders

 

—

 

129,267

 

—

 

258,539

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to common stockholders

 

$

(576,795

)

$

425,400

 

$

(1,246,355

)

$

(6,008,322

)

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding, basic

 

26,706,239

 

24,903,298

 

26,681,948

 

26,187,929

 

Plus: incremental shares from assumed conversions

 

 

 

 

 

 

 

 

 

Effect of dilutive warrants

 

—

 

414,412

 

—

 

416,061

 

Effect of dilutive convertible preferred stock

 

—

 

—

 

—

 

—

 

Effect of dilutive convertible debentures

 

—

 

—

 

—

 

—

 

 

 

 

 

 

 

 

 

 

 

Shares used in calcuating diluted loss per share

 

26,706,239

 

25,317,710

 

26,681,948

 

26,603,990

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share:

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

(0.02

)

$

0.03

 

$

(0.04

)

$

0.05

 

Discontinued operations

 

$

(0.00

)

$

(0.02

)

$

(0.01

)

$

(0.29

)

Net income (loss)

 

$

(0.02

)

$

0.01

 

$

(0.05

)

$

(0.24

)

Net loss attirbutable to noncontrolling interest

 

$

0.00

 

$

0.00

 

$

0.00

 

$

0.00

 

Attributable to preferred shareholders

 

$

0.00

 

$

0.01

 

$

0.00

 

$

0.01

 

Net income (loss) attributable to common stockholders

 

$

(0.02

)

$

0.02

 

$

(0.05

)

$

(0.23

)

 

Earnings per share amounts may not foot due to rounding