Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2014

Accounting Policies [Abstract]

Property and Equipment

Our property and equipment is comprised of the following:

	September 30,		December 31,
	2014		2013
Equipment	$	17,893	$	18,700
Machinery and equipment		9,881,835		8,803,087
Purchased software		187,996		145,622
Furniture and fixtures		-		14,599
Subtotal – property and equipment, at cost		10,087,724		8,982,008
Less accumulated depreciation		(1,863,754)		(1,082,522)
Net property and leasehold improvements	$	8,223,970	$	7,899,486

Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share for the three months ended September 30, 2014:

Numerator for basic earnings per share calculation - income attributable to common shareholders	$	2,567,665
Interest on various convertible promissory notes		361,414
Dividends for 10% convertible preferred stock		152,237
Numerator for diluted earnings per share calculation - income attributable to common shareholders	$	3,081,316
Denominator for basic earnings per share - weighted-average shares outstanding		69,066,096
Incremental shares attributable to:
Options and warrants		194,762
Various convertible promissory notes		50,360,850
10% convertible preferred stock		8,349,975
Denominator for diluted earnings per share		127,971,683
Basic earnings per share	$	0.04
Diluted earnings per share	$	0.02