Three Months Ended September 30,

Nine Months Ended September 30,

2013

2012

2013

2012

Basic earnings per common share:

Net (loss) income

$

(109,628

)

$

118,484

$

(310,440

)

$

12,751

Portion allocable to common stockholders

100.0

%

99.2

%

100.0

%

99.2

%

Net (loss) income allocable to common stockholders

(109,628

)

117,536

(310,440

)

12,649

Weighted average basic common shares outstanding

31,840,970

31,782,786

31,830,881

31,772,136

Basic (loss) income per common share

$

-

$

-

$

(0.01

)

$

-

Dilutive earnings per common share:

Net (loss) income allocable to common stockholders

(109,628

)

117,536

(310,440

)

12,649

Add: undistributed earnings allocated to participating securities

-

948

-

102

Numerator for diluted earnings per common share

(109,628

)

118,484

(310,440

)

12,751

Weighted average shares outstanding - basic

31,840,970

31,782,786

31,830,881

31,772,136

Diluted effect:

Stock options

-

Restricted stock awards

-

Conversion equivalent of dilutive Series B Convertible Preferred Stock

-

3,307,299

-

3,307,299

Conversion equivalent of dilutive Convertible Preferred Stock

-

255,000

-

255,000

Weighted average dilutive common shares outstanding

31,840,970

35,345,085

31,830,881

35,334,435

Dilutive (loss) income per common share

$

-

$

-

$

(0.01

)

$

-