EARNING (LOSS) PER SHARE

12 Months Ended

Dec. 31, 2011

EARNING (LOSS) PER SHARE [Abstract]

EARNING (LOSS) PER SHARE

NOTE 10 - EARNING (LOSS) PER SHARE

The computation of earnings (loss) per share of common stock is based on the weighted average number of shares outstanding at the date of the financial statements.  The computation of diluted earnings per common share is based on the weighted average number of shares outstanding during the year plus the common stock equivalents that would arise from the exercise of stock options and warrants outstanding under the treasury method and the average market price per share during the year. Common stock equivalents at December 31, 2011 consisted of 18,022,188 of which 11,598,411 were in options and 6,423,777 were in warrants.  Common stock equivalents at December 31, 2010 consisted of 8,173,464, of which 7,593,277 in options and 580,187 in warrants. Common stock equivalents at December 31, 2009 consisted of 7,533,277 in options and 260,000 in warrants.Common stock equivalents at December 31, 2011, 2010 and 2009 were considered but were not included in the computation of loss per share at December 31, 2011, 2010 and 2009 because they would have been anti-dilutive.

	Net Loss			Shares		Per-Share
	(Numerator)			(Denominator)		Amount
For the year ended December 31, 2011:
Basic EPS
Net loss to common shareholders	$	(7,534,956	)		74,568,658	$	(0.10	)
For the year ended December 31, 2010:
Basic EPS
Net loss to common shareholders	$	(4,767,715	)		68,396,770	$	(0.07	)
For the year ended December 31, 2009:
Basic EPS
Net loss to common shareholders	$	(6,766,200	)		60,665,785	$	(0.11	)