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EARNINGS (LOSS) PER SHARE (Tables)

9 Months Ended

Sep. 30, 2014

EARNINGS (LOSS) PER SHARE

Schedule of reconciliation of net income (loss) and weighted average common shares outstanding for purposes of calculating basic and diluted net income (loss) per share

		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		(Unaudited)						(Unaudited)
		2014			2013			2014			2013
Basic:
Numerator:
Net loss		$	(4,009,477	)	$	(3,951,687	)	$	(3,761,777	)	$	(1,604,244	)

Denominator:
Basic - weighted average common shares outstanding		21,957,167			21,832,831			21,956,804			21,805,692

Basic EPS		$	(0.18	)	$	(0.18	)	$	(0.17	)	$	(0.07	)

Diluted:
Numerator:

Net loss		$	(4,009,477	)	$	(3,951,687	)	$	(3,761,777	)	$	(1,604,244	)

Denominator:
Weighted average common shares outstanding		21,957,167			21,832,831			21,956,804			21,805,692
Effect of Dilutive Securities:
Stock options		—			—			—			—
		21,957,167			21,832,831			21,956,804			21,805,692

Diluted EPS		$	(0.18	)	$	(0.18	)	$	(0.17	)	$	(0.07	)