Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

3. Earnings (Loss) Per Share

Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period plus dilutive common stock equivalents, using the treasury stock method.

Common stock equivalents for convertible preferred stock of 1,132,366 shares were excluded from the calculation of loss per share for the six months ended June 30, 2013, because they were not dilutive; these shares would have been dilutive if the Company had not had a net loss for the this period. Common stock equivalents for convertible preferred stock of 1,177,470 shares were included in the calculation of earnings per share for the three months ended June 30, 2013. Common stock equivalents for convertible preferred stock of 991,153 shares were included in calculation of gain per share for the six months and three months ended June 30, 2012.

A warrant for 30,000 shares, and stock options of 100,000 were excluded from the calculation of loss per share for the six months and three months ended June 30, 2013, and a warrant for 30,000 shares, and stock options of 150,000 were excluded from the calculation of loss per share for the three months ended June 30, 2012, respectively, because their effect was anti-dilutive.