Basic and Diluted Net Income Per Common Share

6 Months Ended

Jun. 30, 2011

Basic and Diluted Net Income Per Common Share [Abstract]

Basic and Diluted Net Income Per Common Share

NOTE 6: Basic and Diluted Net Income Per Common Share

Basic earnings per share amounts are computed by dividing reported earnings available to common stockholders by the weighted average shares outstanding for the period. Diluted earnings per share amounts are computed by dividing reported earnings available to common stockholders by weighted average common shares outstanding for the period giving effect to securities considered to be potentially dilutive common shares such as stock options.

	For the Three Months Ended						For the Six Months Ended
	June 30,						June 30,
	2011			2010			2011			2010
Net loss	$	(281,698	)	$	(447,519	)	$	(624,214	)	$	(670,650	)
Weighted average shares of common stock outstanding used to compute basic earnings per share		29,038,021			29,038,021			29,038,021			29,038,021
Additional common shares to be issued assuming exercise of stock options and stock warrants		—			—			—			—
Weighted average shares of common and common equivalent stock outstanding used to compute diluted earnings per share		29,038,021			29,038,021			29,038,021			29,038,021
Basic:
Net loss per share	$	(0.01	)	$	(0.02	)	$	(0.02	)	$	(0.02	)
Weighted average common shares outstanding		29,038,021			29,038,021			29,038,021			29,038,021
Diluted:
Net loss per share	$	(0.01	)	$	(0.02	)	$	(0.02	)	$	(0.02	)
Weighted average common and common equivalent shares outstanding		29,038,021			29,038,021			29,038,021			29,038,021

There were no additional common shares to be issued, assuming exercise of stock options and stock warrants, since all options and warrants had an exercise price higher than the average stock price for the three months ended June 30, 2011 and for the three and six months ended June 30, 2010. For the six months ended June 30, 2011, outstanding stock options were excluded from weighted average shares of common and common equivalent shares outstanding due to their anti-dilutive effect as a result of the Company’s net loss. Additional common shares to be issued, assuming exercise of stock options for the six months ended June 30, 2011, would have been 147,668.