Three months ended September 30,

Nine months ended September 30,

2011

2012

2011

2012

(Unaudited)

Loss from continuing operations

$

(776,815

)

$

(576,482

)

$

(1,356,812

)

$

(1,481,838

)

Preferred stock dividends

—

(282,444

)

—

Preferred stock redemption

5,586,666

—

5,586,666

—

Net income (loss) from continuing operations applicable to common stockholders

$

4,809,851

$

(576,482

)

$

3,947,410

$

(1,481,838

)

Net loss from discontinued operations

(139,279

)

—

(728,488

)

(81,594

)

Net income (loss) applicable to common stockholders - numerator for basic and diluted loss per share

$

(916,094

)

$

(576,482

)

$

3,218,922

$

(1,563,432

)

Weighted - average common shares and dilutive potential common shares outstanding - denominator for dilluted earning per share

55,699,005

62,359,372

48,120,853

62,041,779

Net income (loss) per common share (basic and diluted):

Continuing operations

$

(0.01

)

$

(0.01

)

$

0.08

$

(0.02

)

Discontinued operations

$

(0.00

)

$

—

$

(0.02

)

$

(0.00

)

Net income (loss)

$

(0.02

)

$

(0.01

)

$

0.07

$

(0.03

)