Earnings Per Share

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 6. Earnings Per Share

Basic income (loss) per share is calculated as income available to (loss attributable to) common shareholders divided by the weighted average number of common shares outstanding. Diluted earnings per share is calculated as diluted income available (loss attributable) to common shareholders divided by the diluted weighted average number of common shares outstanding. Diluted weighted average number of common shares gives effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible preferred stock using the if-converted method. Diluted earnings per share exclude all diluted potential shares if their effect is anti-dilutive. For the nine months ended September 30, 2012 and 2011, and the three months ended September 30, 2011, all convertible preferred stock and common stock options listed in Note 3 were excluded from diluted earnings per share due to being out-of-the-money or anti-dilutive. The following is provided to reconcile earnings per share.

	Three months ended Sept. 30,					Nine months ended Sept. 30,
	2012		2011			2012			2011
Income (loss) applicable
to common shares	$	84,711	$	(390,596	)	$	(106,523	)	$	(671,828	)
Weighted average common
shares outstanding - basic		3,817,963		3,779,768			3,812,019			3,778,620
Effect of dilutions		9,811		-			-			-
Weighted average
shares outstanding - diluted		3,827,774		3,779,768			3,812,019			3,778,620