9.	Loss Per Share

Basic loss per common share is based on the weighted average number of common shares outstanding in each period and earnings adjusted for preferred stock dividend requirements. Diluted earnings per common share assumes that any dilutive convertible preferred shares outstanding at the beginning of each period were converted at those dates, with related interest, preferred stock dividend requirements and outstanding common shares adjusted accordingly. It also assumes that outstanding common shares were increased by shares issuable upon exercise of those stock options and warrants for which market price exceeds exercise price, less shares which could have been purchased by the Company with related proceeds. The convertible preferred stock and outstanding stock options and warrants were not included in the computation of diluted earnings per common share for the three months ended March 31, 2015 and 2014, respectively since it would have resulted in an antidilutive effect.

The following table sets forth the computation of basic and diluted loss per share (in thousands, except per share data):

	Three Months Ended
	March 31, 2015		March 31, 2014

Numerator
Basic and diluted loss	$	(554)	$	(861)

Denominator
Basic and diluted earnings per share - weighted average shares outstanding		14,060		3,631

Basic and diluted loss per common share	$	(0.04)	$	(0.24)

Anti-dilutive securities (based on conversions to common shares) not included in net loss per share calculation (in thousands):

	March 31, 2015		March 31, 2014
Convertible Series A preferred stock		1		1
Convertible Series B preferred stock		62		764
Convertible Series S preferred stock		-		2,500
Convertible Series H preferred stock		-		1,207
Stock warrants		33		306
Convertible debt		4		1,009
Common stock options		269		472
Series B preferred stock options		343		516
Common stock payable		-		3,446