4. Per Share Data:

3 Months Ended

Mar. 31, 2013

Notes to Financial Statements

4. Per Share Data:

Basic earnings (loss) per share is calculated by dividing net income (loss) by the weighted average outstanding common shares during the period. Diluted earnings per share is calculated by dividing net income by the number of shares outstanding under the basic calculation and adding all dilutive securities, which consist of options. There were no dilutive options for the three months ended March 31, 2012. Accordingly, basic and diluted income per share are the same for the period. Basic and diluted net loss per common share for the three months ended March 31, 2013 are the same as the effect of stock options is anti-dilutive. Shares underlying stock options not included in the diluted computation amounted to 400,000 and 1,228,200 in 2013 and 2012.