| Earnings (Loss) Per Share |
|
8.
|
Earnings
(Loss) Per Share
|
The
following is a reconciliation of the number of shares used in the
calculation of basic and diluted earnings (loss) per share for the
three-month and nine-month periods ended September 30, 2011 and
2010:
| |
|
For the Three-Month
|
|
|
For the Nine-Month
|
|
|
|
|
Period Ended September 30,
|
|
|
Period Ended September 30,
|
|
|
|
|
2011
|
|
|
2010
|
|
|
2011
|
|
|
2010
|
|
|
Net
income (loss)
|
|
$ |
(329,574 |
) |
|
$ |
(278,122 |
) |
|
$ |
460,484 |
|
|
$ |
(486,864 |
) |
|
Weighted-average
number of common shares outstanding
|
|
|
43,374,158 |
|
|
|
37,540,000 |
|
|
|
42,001,576 |
|
|
|
37,185,000 |
|
|
Incremental
shares from the assumed exercise of dilutive stock options
(a)
|
|
|
- |
|
|
|
- |
|
|
|
1,257,905 |
|
|
|
- |
|
|
Diluted
common shares outstanding
|
|
|
43,374,158 |
|
|
|
37,540,000 |
|
|
|
43,259,481 |
|
|
|
37,185,000 |
|
|
Basic
earnings (loss) per share
|
|
$ |
(0.01 |
) |
|
$ |
(0.01 |
) |
|
$ |
0.01 |
|
|
$ |
(0.01 |
) |
|
Diluted
earnings (loss) per share
|
|
$ |
(0.01 |
) |
|
$ |
(0.01 |
) |
|
$ |
0.01 |
|
|
$ |
(0.01 |
) |
In
periods where the Company incurs a loss, potentially dilutive
securities are not included in the computation of diluted net loss
per share as their effect would have been
anti-dilutive. The following securities were not
included in the computation of diluted net loss per share as their
effect would have been anti-dilutive:
| |
|
For the Three-Month
|
|
|
For the Nine-Month
|
|
|
|
|
Period Ended September 30,
|
|
|
Period Ended September 30,
|
|
|
|
|
2011
|
|
|
2010
|
|
|
2011
|
|
|
2010
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock
options
|
|
|
2,142,842 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
Convertible
debentures
|
|
|
1,666,667 |
|
|
|
1,666,667 |
|
|
|
- |
|
|
|
1,666,667 |
|