Earnings Per Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

8. Earnings Per Share

The Company reports basic and diluted earnings per share (“EPS”). Basic EPS is based on the weighted average number of shares outstanding during the period, while diluted EPS additionally includes the dilutive effect of the Company’s outstanding stock options, warrants, and restricted stock computed using the treasury stock method as well as other potentially dilutive securities. For the periods ended June 30, 2013 and 2012 potentially dilutive securities include:

	June 30, 2013		June 30, 2012
Restricted stock		20,000		34,000
Warrants		4,677,074		238,690
Options		458,750		453,750
Escrow shares		-		691,373
Convertible debt		3,536,458		-
Convertible preferred stock		1,677,264		1,677,264
Total potentially dilutive securities		10,369,546		3,095,077

For the three and six months ended June 30, 2013 and 2012, the shares used in computing diluted net loss per share do not include any of the above securities as the effect is anti-dilutive.