Note 16 - Net Loss Per Share

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Text Block]

NOTE P – NET LOSS PER SHARE

We compute and present both basic and diluted earnings per share (“EPS”) on the face of the statements of operations. Basic EPS is computed using the weighted average number of common shares outstanding during the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock at the beginning of the period (or as of the date of issuance if issued in the current year) being reported on, and the effect was dilutive.

The following potentially dilutive securities were excluded from the calculation of diluted net loss per share, as the effect would have been anti-dilutive:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012		2011
Victory Park convertible debt upon conversion to common stock (1)		396,543,198		54,313,000		396,543,198		39,391,000
Options to purchase common stock		10,526,002		8,845,000		9,901,923		9,229,000
Warrants to purchase common stock		60,000		60,000		60,000		60,000
Unvested restricted stock		20,000		40,000		32,117		40,000
Total		407,149,200		63,258,000		406,537,238		48,720,000

(1) Assumes conversion of principal plus accrued interest as of September 30.

Reconciliation between the number of issued shares shown on the balance sheet and the number of shares used to determine EPS at September 30, 2012 and 2011:

	September 30, 2012		September 30, 2011
Issued shares per balance sheet		95,586,644		93,023,870
Unvested restricted stock		(20,000)		(40,000	)
Treasury Stock		--		--
Shares used in determining EPS		95,566,644		92,983,870