EARNINGS (LOSS) PER COMMON SHARE

3 Months Ended

Sep. 30, 2011

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS [Abstract]

NOTE 5 — EARNINGS (LOSS) PER COMMON SHARE

The following table reconciles the numerators and denominators of the basic and diluted loss per common share computation:
				Three Months Ended
				September 30,
				2011			2010

Basic loss per share:
	Numerator:
		Loss from continuing operations, net of income tax		$	(2,697)		$	(2,604)
		Loss from discontinued operations, net of income tax			(121)			(290)
		Net loss available to common shareholders		$	(2,818)		$	(2,894)

	Denominator:
		Weighted average common shares outstanding			26,047			24,660

		Basic loss available to common shareholders per share from:
			Continuing operations	$	(0.10)		$	(0.11)
			Discontinued operations		0.00			(0.01)
			Total basic loss per share	$	(0.10)		$	(0.12)

Diluted loss per share:
	Numerator:
		Loss from continuing operations, net of income tax		$	(2,697)		$	(2,604)
		Loss from discontinued operations, net of income tax			(121)			(290)
		Net loss available to common shareholders		$	(2,818)		$	(2,894)

	Denominator:
		Weighted average common shares outstanding			26,047			24,660
		Stock options and warrants			—	(1)		—
		Conversion of notes payable			—	(2)		—
		Diluted shares outstanding			26,047			24,660

		Diluted loss available to common shareholders per share from:
			Continuing operations	$	(0.10)		$	(0.11)
			Discontinued operations		0.00			(0.01)
			Total diluted loss per share	$	(0.10)		$	(0.12)

(1) As of September 30, 2011, the computation of the dilutive effect resulted in 0 dilutive shares (as the market price is lower than the conversion price). However, there is no dilutive effect as the Company's performance resulted in a loss. As of September 30, 2010, the computation of the dilution effect resulted in an increase of 1,257 dilutive shares. However, there is no dilutive effect as the Company's performance resulted in a loss.

(2) The Company's 8.00%/7.00% Convertible Senior Notes due 2025 are eligible for conversion in 2011 (subject to certain terms and conditions under the Indenture dated as of February 1, 2010). However, as of September 30, 2011, there is no dilutive effect as the Company's performance resulted in a loss.


				Nine Months Ended
				September 30,
				2011			2010

Basic loss per share:
	Numerator:
		Loss from continuing operations, net of income tax		$	(8,125)		$	(2,795)
		Loss from discontinued operations, net of income tax		(3,203)			(1,113)
		Net loss available to common shareholders		$	(11,328)		$	(3,908)

	Denominator:
		Weighted average common shares outstanding			25,989			24,393

		Basic loss available to common shareholders per share from:
			Continuing operations	$	(0.31)		$	(0.12)
			Discontinued operations	(0.12)			(0.05)
			Total loss per share	$	(0.43)		$	(0.17)

Diluted loss per share:
	Numerator:
		Loss from continuing operations, net of income tax		$	(8,125)		$	(2,795)
		Loss from discontinued operations, net of income tax		(3,203)			(1,113)
		Net loss available to common shareholders		$	(11,328)		$	(3,908)

	Denominator:
		Weighted average common shares outstanding		25,989			24,393
		Stock Options and Warrants		—		(1)	—		(1)
		Conversion of notes payable		—		(2)	—		(2)
		Diluted shares outstanding			25,989			24,393

		Diluted loss available to common shareholders per share from:
			Continuing operations	$	(0.31)		$	(0.12)
			Discontinued operations	(0.12)			(0.05)
				$	(0.43)		$	(0.17)

(1) The computation of the dilutive effect resulted in an increase of 8,400 and 1,400 dilutive shares, respectively for the nine months ended September 30, 2011 and 2010. However, there is no dilutive effect as the Company's performance resulted in a loss.

The New Convertible Senior Notes are amortized to the principal amount through the date of the first put right on October 1, 2013 using the effective interest rate method . For the nine months ended September 30 , 2011, $760,000 was recorded in accretion income and $1,756,000 in interest expense.

For the three and nine months ended September 30 2011 and 2010, interest expense consisted of the following: