Earnings Per Share

3 Months Ended

Mar. 31, 2015

Earnings Per Share:

Earnings Per Share

LOSS PER SHARE

Loss per share is computed on the basis of the weighted average number of shares and common stock equivalents outstanding during the period.  In the calculation of diluted loss per share, shares outstanding are adjusted to assume conversion of the Company’s non-interest bearing convertible stock and exercise of options as if they were dilutive.  In the calculation of basic loss per share, weighted average numbers of shares outstanding are used as the denominator.

The Company had net loss allocable to common stockholders for the three months ended March 31, 2015 and 2014.  Loss per share is computed as follows:

	Three  Months Ended March 31,
		2015			2014
Numerator:
Net loss available to common shareholders	$	(918,000	)	$	(1,336,000	)
Denominator:
Weighted average shares used to compute net loss available     to common shareholders per  common share basic and dilutive		3,587,000			3,587,000
Basic and dilutive net loss per share to common shareholder	$	(0.26	)	$	(0.37	)

All options outstanding to purchase shares of common stock and shares of common stock issued on the assumed conversion of the eligible preferred stock were excluded from the diluted loss per common share calculation for the three months ended March 31, 2015 and 2014, as the inclusion of these options would have been antidilutive.