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Stockholders Equity
 3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2012
Jun. 30, 2011
Notes to Financial Statements      
Stockholders Equity

4. EQUITY

 

Diluted EPS (Earnings per Share) gives effect to all dilutive potential common shares outstanding during the period. The computation of Diluted EPS does not assume conversion, exercise or contingent exercise of securities that would have an anti-dilutive effect on losses. As a result, if there is a loss from continuing operations, Diluted EPS is computed in the same manner as Basic EPS. At June 30, 2012 and 2011, the Company had 1,245,000 options outstanding, that were not included in the calculation of earnings per share for the periods then ended. Such financial instruments may become dilutive and would then need to be included in future calculations of Diluted EPS. At June 30, 2012 and 2011, the outstanding options were considered anti-dilutive since the strike prices were above the market price and since the Company has incurred losses year to date.

 

On August 24, 2011, Albert E. Whitehead, the Company’s Chief Executive Officer, was issued 2,000,000 shares of the Company’s common stock for a purchase price of $.05 per share for a total investment of $100,000.

 

On May 31, 2012, at an Annual Meeting of Stockholders, the stockholders approved an increase of the Company’s authorized shares of common stock by 50,000,000 to 150,000,000.

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