Basic and Diluted Earnings (Loss) per Share

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 2-- Basic and Diluted Earnings (Loss) per Share

Basic earnings (loss) per common share is computed using the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share is computed using the weighted average number of common shares and potential dilutive common shares that were outstanding during the period. Potential dilutive common shares consist of outstanding stock options, outstanding stock warrants, and convertible preferred stock.

The following table sets forth the computation of basic and diluted earnings (loss) per share:

	Three months ended March 31
	2015		2014
Numerator:
Net income (loss)	$	116,447	$	(150,950)
Denominator:
Denominator for basic earnings (loss) per
share--weighted average shares		12,819,000		12,666,000
Dilutive effect of employee stock options
and other warrants		3,000		-
Denominator for diluted earnings (loss) per
share--adjusted weighted average shares		12,822,000		12,666,000
Basic earnings (loss) per share	$	0.01	$	(0.01)
Diluted earnings (loss) per share	$	0.01	$	(0.01)

Option and warrants to purchase 1,622,525 shares and 1,502,987 shares of common stock for the three months March 31, 2015 and 2014, respectively, were not included in the denominator for diluted earnings (loss) per share because their effect would be antidilutive or because the shares were deemed contingently issuable.