Quarterly report pursuant to Section 13 or 15(d)

Loss per common share

v2.4.0.6
Loss per common share
 3 Months Ended
Mar. 31, 2013
Earnings Per Share [Abstract]  
Loss per common share
Loss per common share
 
The Company computes basic loss per share by dividing net loss for the period by the weighted-average number of shares of common stock outstanding during the period. The Company computes its diluted earnings per common share using the treasury stock method. For purposes of calculating diluted loss per share, the Company considers its shares issuable in connection with convertible debentures, stock options and warrants to be dilutive common stock equivalents when the exercise/conversion price is less than the average market price of the common stock for the period. All shares issuable for both periods were anti-dilutive because of the reported net loss. Basic and diluted earnings per share for the three months ended March 31, 2013 and 2012, respectively, were as follows: 
 
2013
 
2012
Loss available to stockholders
$
(860,393
)
 
$
(438,313
)
 
 
 
 
Weighted average shares outstanding - Basic and diluted
52,851,574

 
52,060,614

Basic and diluted loss per share
$
(0.02
)
 
$
(0.01
)
 
 
 
 
Anti-dilutive shares underlying stock options outstanding
4,386,000

 
4,381,000

Anti-dilutive convertible debentures
303,223

 
636,557