Basic and Diluted Average Shares

9 Months Ended

Sep. 30, 2015

Basic and Diluted Average Shares [Abstract]

Basic and Diluted Average Shares

(5) Basic and Diluted Average Shares

A reconciliation of basic and diluted weighted average common shares for the three months and nine months ended September 30, 2015 and 2014, is as follows:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2015		2014		2015		2014
Basic weighted average shares		12,296,446		12,223,584		12,268,475		12,209,416
Effect of potential dilutive securities		-		47,778		-		-
Diluted  weighted average shares		12,296,446		12,271,362		12,268,475		12,209,416

For the three and nine months ended September 30, 2015 and 2014, options to purchase 5,030,000 and 5,327,500 shares of common stock, respectively, were not added to the diluted average shares because inclusion of such shares would be antidilutive. For the three and nine months ended September 30, 2015 and 2014, there were 17,500 and 42,145 unvested Restricted Stock Units (“RSUs”), respectively, not added to the diluted average shares because inclusion of such shares would be antidilutive.