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2. BASIC AND DILUTED EARNINGS PER COMMON SHARE
 9 Months Ended
Sep. 30, 2012
Basic And Diluted Earnings Per Common Share  
Note 2. BASIC AND DILUTED EARNINGS PER COMMON SHARE

 

The Company computes basic and diluted earnings per common share in accordance with the provisions of ASC No. 260, Earnings per Share. Basic earnings per share excludes the dilutive effects of options, warrants and other convertible securities. Diluted earnings per share reflects the potential dilution of securities that could share in our earnings. Total options, warrants, convertible preferred stock and deferred stock units that were excluded from computing diluted net loss per common share represented approximately 6,555,000 and 9,243,000 shares of the Company’s common stock for the three months ended September 30, 2012 and 2011, respectively, and 7,346,000 and 9,243,000 shares of the Company’s common stock for the nine months ended September 30, 2012 and 2011, respectively, as their effect was anti-dilutive.

 

    Three months ended
September 30,		     Nine months ended
September 30,		  
    2012     2011     2012     2011  
Numerator:                                
Net income (loss)   $ 54     $ (837 )   $ (1,624 )   $ (2,380 )
Denominator:                                
Weighted average common shares outstanding - basic     70,876       60,404       68,537       60,394  
Effects of diluted common share equivalents     497       –       –       –  
Weighted average common shares outstanding - diluted     71,373       60,404       68,537       60,394  
                                 
Net income (loss) per common share - basic   $ 0.00     $ (0.01 )   $ (0.02 )   $ (0.04 )
Net income (loss) per common share - diluted   $ 0.00     $ (0.01 )   $ (0.02 )   $ (0.04 )