11. Net Income Per Common Share (Tables)

9 Months Ended

Sep. 30, 2012

Earnings per common share:

Schedule of Net Income Per Common Share

The reconciliation of the weighted average number of shares of Common Stock and net income used in the calculation of basic and diluted earnings per common share follows:

	Three months ended				Nine months ended
	September 30,				September 30,
	2012		2011		2012		2011
	(unaudited)				(unaudited)
Net income used in the calculation of basic earnings per share	$	913,987	$	219,569	$	2,239,721	$	1,120,124
Effect of dilutive securities, common share equivalents		455		1,117		39,434		-
Net income used for computing diluted earnings per share	$	914,442	$	220,686	$	2,279,155	$	1,120,124
Weighted average number of shares outstanding		3,824,461		3,838,386		3,794,979		3,838,386
Effect of dilutive securities, common share equivalents		111,706		74,650		89,193		-
Weighted average number of shares outstanding,
used for computing diluted earnings per share		3,936,167		3,913,036		3,884,172		3,838,386