Loss Per Share

9 Months Ended

Sep. 30, 2012

Loss Per Share [Abstract]

Loss Per Share

NOTE 4 — Loss Per Share

Basic loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted loss per share is computed using the average share price for the period and applying the treasury stock method to potentially dilutive outstanding options. In all applicable periods, all potential common stock equivalents were anti-dilutive and, accordingly, were not included in the computation of diluted loss per share.

The following table presents information necessary to calculate loss per share for the three and nine month periods ended September 30, 2012 and 2011 (in thousands, except per share amounts):

	Three Months Ended Sept. 30,						Nine Months Ended Sept. 30,
	2012			2011			2012			2011
Net Loss	$	(4,583	)	$	(3,960	)	$	(10,123	)	$	(9,759	)
Average common shares outstanding		15,422			12,315			14,746			11,840
Basic and diluted loss per share	$	(0.30	)	$	(0.32	)	$	(0.69	)	$	(0.82	)

Potential common stock of 5,264,207 and 5,260,795 common shares underlying stock options and warrants for the periods ended September 30, 2012 and 2011, respectively, were excluded from the above calculation of diluted loss per share because they were anti-dilutive. Potential common stock for the periods ended September 30, 2012 and 2011, includes Series A Warrants to purchase 1,749,270 shares of our common stock at an exercise price of $0.01. Also included in potential common stock for the periods ended September 30, 2012 and 2011, are Series B Warrants to purchase 1,569,421 and 1,690,500 shares, respectively, of our common stock at an exercise price of $2.49 issued in our February 8, 2011 public offering.