Basic and Diluted Average Shares

12 Months Ended

Dec. 31, 2016

Note 6 – Basic and Diluted Average Shares

A reconciliation of basic and diluted average common shares is as follows:

	Year Ended December 31,
	2016		2015
Basic weighted average shares		13,214,835		12,275,525
Effect of potential dilutive securities		-		-
Diluted weighted average shares		13,214,835		12,275,525

For the years ended December 31, 2016 and 2015, there were 1,167,000 and 5,029,000 common stock options, warrants, and Restricted Stock Units (RSUs) unexercised respectively. On October 25, 2016, 5,000,000 stock option shares expired unexercised by Elemetal at a price of $15 a share. For the Fiscal year 2016 and 2015, the options, warrants and RSU’s were not added to the diluted average shares because inclusion of such shares would be antidilutive.