4. Per Share Data

6 Months Ended

Jun. 30, 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. The Company incurred a net loss for the three and six months ended June 30, 2013. Accordingly, basic and diluted net loss per common share are the same for each period as the effect of stock options is anti-dilutive. There were no dilutive options for the three and six months ended June 30, 2012. Accordingly, basic and diluted income per share are the same for each period. Shares underlying stock options not included in the diluted computation amounted to 400,000 at June 30, 2013 and 478,200 at June 30, 2012.