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Income (loss) per share
 3 Months Ended
Mar. 31, 2013
Income (loss) per share [Abstract]  
Income (loss) per share

Note 7: Income (loss) per share

The Company is required to present basic income (loss) per share and diluted income (loss) per share in its consolidated statements of operations. Basic income (loss) per share amounts are computed by dividing net income (loss) by the weighted average number of common shares outstanding. Diluted income (loss) per share reflects additional common shares that would have been outstanding if potentially dilutive common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Potential common shares that may be issued by the Company relate to outstanding stock options and are determined using the treasury stock method. The Company is also required to provide a reconciliation of the numerator and denominator used in the computation of both basic and diluted income (loss) per share.

 

The stock options and non-vested restricted stock awards did not have an impact on the diluted earnings per share. The following is information about the computation of income (loss) per share for the three months ended March 31, 2013 and 2012:

Three months ended March 31, 2013

 

                         
    Net Loss     Weighted Average
Common Shares
O/S		     Amount  

Basic and Diluted loss Per Share

                        

Loss attributable to common shareholders

   $ (1,956,967 )      38,435,597     $ (0.05 ) 
   

 

 

    

 

 

    

 

 

  

Three months ended March 31, 2012

 

                         
    Net Income     Weighted Average
Common Shares
O/S		     Amount  

Basic and Diluted Income Per Share

                        

Income attributable to common shareholders

   $ 545,530       38,372,271     $ 0.01