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Earnings Per Share
 6 Months Ended
Jun. 30, 2012
Earnings per share [Abstract]  
Earnings Per Share

(5) Earnings per share.

 

A reconciliation of the earnings and shares of the basic earnings per common share and diluted earnings per common share for the three and six months ended June 30, 2012 and 2011 is as follows:

 

    2012     2011  
    Three months ended June 30,     Three months ended June 30,  
    Net Earnings     Shares     Per share     Net Earnings     Shares     Per share  
                                     
Basic earnings per common share   $ (2,407,532 )     12,175,136     $ (0.20 )   $ 237,969       10,372,570     $ 0.02  
                                                 
Effect of dilutive stock options     -       -       -       -       1,036,689       -  
                                                 
Diluted earnings per common share   $ (2,407,532 )     12,175,136     $ (0.20 )   $ 237,969       11,409,259     $ 0.02  

 

    2012     2011  
    Six months ended June 30,     Six months ended June 30,  
    Net Earnings     Shares     Per share     Net Earnings     Shares     Per share  
                                     
Basic earnings per common share   $ (1,910,282 )     12,175,136     $ (0.16 )   $ 433,275       10,372,570     $ 0.04  
                                                 
Effect of dilutive stock options     -       -       -       -       1,036,689       -  
                                                 
Diluted earnings per common share   $ (1,910,282 )     12,175,136     $ (0.16 )   $ 433,275       11,409,259     $ 0.04  

 

For the three months ended June 30, 2012 and 2011, options to purchase 5,000,000 and nil shares of the common stock of the Company, respectively, were not added to the denominator because inclusion of such shares would be antidilutive.

 

As of June 30, 2012 and 2011, options to purchase 5,547,500 and 1,493,134, shares of the common stock of the Company, respectively, were outstanding.