Basic and Diluted Average Shares

6 Months Ended

Jun. 30, 2017

Note 5 - Basic and Diluted Average Shares

A reconciliation of basic and diluted weighted average common shares for the three and six months ended June 30, 2017 and 2016 is as follows:

	For the Three Months Ended				For the Six Months Ended
	June 30,				June 30,
	2017		2016		2017		2016

Basic weighted average shares		26,919,024		12,328,956		26,912,364		12,313,228
Effect of potential dilutive securities		453,021		-		461,205		-
Diluted weighted average shares		27,372,045		12,328,956		27,373,569		12,313,228

For the three and six months ended June 30, 2017 and 2016, there were 1,015,000 and 5,015,000 of common share options, warrants, and Restricted Stock Units (RSU’s) unexercised respectively. For the three and six months ended June 30, 2016 there were 5,015,000 common share options, warrants, and RSUs were not added to the diluted average shares because inclusion of such shares would be antidilutive. On October 26, 2016, 5,000,000 stock option shares expired unexercised by Elemetal at a price of $15 a share.