Note 6 – Loss Per Share

Basic loss per share is based on the weighted effect of all common shares issued and outstanding, and is calculated by dividing net loss attributable to common shareholders by the weighted average shares outstanding during the period. Diluted loss per share, which is calculated by dividing net loss attributable to common shareholders by the weighted average number of common shares used in the basic loss per share calculation plus the number of common shares that would be issued assuming conversion of all potentially dilutive securities outstanding, is not presented as such potentially dilutive securities are anti-dilutive in all periods presented. For the six months ended June 30, 2012 and 2011, the Company incurred net losses and therefore no common stock equivalents were utilized in the calculation of loss per share. At June 30, 2012 and 2011, the Company excluded the following potentially dilutive securities:



	June 30,
	2012	2011
Stock Options	21,984,596	19,086,328
Warrants	58,287,955	25,007,979
Series E Preferred Stock, Common stock equivalents	3,368,117	4,599,136
Restricted Shares	142,500	340,000