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2. Earnings per share (Tables)
 9 Months Ended
Sep. 30, 2014
Earnings Per Share [Abstract]  
Earnings per Share
The following table presents the calculation of both basic and diluted EPS.
 
Three months ended September 30,
Nine months ended September 30,
 
2014
2013
2014
2013
Income (loss) from continuing operations
$
129,645

$
(569,528
)
$
628,601

$
(3,444,844
)
Income (loss) from discontinued operations, net of tax
—

3,977

(1,779
)
(16,569
)
Net income (loss) available to common shareholders
$
129,645

$
(565,551
)
$
626,822

$
(3,461,413
)
 
 
 
 
 
Basic EPS:
 
 
 
 
Weighted average common shares outstanding
2,748,479

2,704,239

2,731,530

2,704,239

 
 
 
 
 
Income (loss) per share - basic
 
 
 
 
Continuing operations
$
0.05

$
(0.21
)
$
0.23

$
(1.27
)
Discontinued operations
—

—

—

(0.01
)
Consolidated basic EPS
$
0.05

$
(0.21
)
$
0.23

$
(1.28
)
 
 
 
 
 
Diluted EPS:
 
 
 
 
Weighted average common shares outstanding
2,748,479

2,704,239

2,731,530

2,704,239

Assumed conversion of net common shares issuable under stock option plans
62,359

—

49,439

—

Assumed conversion of net common shares issuable under warrants
44,385

—

34,807

—

Weighted average common and common equivalent shares outstanding, diluted
2,855,223

2,704,239

2,815,776

2,704,239

 
 
 
 
 
Income (loss) per share - diluted




 
 
Continuing operations
$
0.05

$
(0.21
)
$
0.22

$
(1.27
)
Discontinued operations
—

—

—

(0.01
)
Consolidated diluted EPS
$
0.05

$
(0.21
)
$
0.22

$
(1.28
)