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Basic and Diluted Average Shares
 9 Months Ended
Sep. 30, 2014
Basic and Diluted Average Shares [Abstract]  
Basic and Diluted Average Shares

(5) Basic and Diluted Average Shares

 

A reconciliation of basic and diluted weighted average common shares for the three and nine months ended September 30, 2014 and 2013, is as follows:

 

  For the Three Months Ended
September 30,		   For the Nine Months Ended
September 30,		  
  2014   2013     2014     2013  
                   
Basic weighted average shares   12,223,584       12,175,584       12,209,416       12,175,584  
Effect of potential dilutive securities:
 		                              
Restricted Stock Units   47,778       -       -       -  
Diluted weighted average shares   12,271,362       12,175,584       12,209,416       12,175,584  

 

For the three and nine months ended September 30, 2014 and 2013, options to purchase 5,327,500 and 5,372,500 shares of common stock, respectively, were not added to the diluted average shares because inclusion of such shares would be antidilutive. For the three and nine months ended September 30, 2014, there were 0 and 42,145 unvested Restricted Stock Units (“RSUs”), respectively, not added to the diluted average shares because inclusion of such shares would be antidilutive. No RSUs were outstanding for the three and nine months ended September 30, 2013.