Basic and Diluted Average Shares

9 Months Ended

Sep. 30, 2017

Note 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, 2017 and 2016 is as follows:

	For the Three Months Ended				For the Nine Months Ended
	September 30,				September 30,
	2017		2016		2017		2016

Basic weighted average shares		26,924,381		12,358,466		26,916,414		12,327,753
Effect of potential dilutive securities		510,205		-		477,718		-
Diluted weighted average shares		27,434,586		12,358,466		27,394,132		12,327,753

For the three and nine months ended September 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 nine months ended September 30, 2016 there were 6,015,000 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.