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Net Loss Per Share Applicable to Common Stockholders

3 Months Ended

Sep. 30, 2013

Net Loss Per Share Applicable to Common Stockholders

NOTE 9 — Net Loss Per Share Applicable to Common Stockholders

The following table sets forth the computation of basic and diluted net loss per share:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Numerator:
Net loss	$	(320,868	)	$	(982,823	)	$	(202,557	)	$	(2,609,997	)

Denominator:
Weighted average common shares outstanding used in computing net loss per share:
Basic and Diluted		4,867,063			4,861,063			4,864,360			4,851,152

Net loss per share:
Basic and Diluted	$	(0.07	)	$	(0.20	)	$	(0.04	)	$	(0.54	)

For the three and nine months ended September 30, 2013 and 2012, the diluted net loss per share is equal to the basic net loss per share because the Company experienced losses in these periods. Thus no potential common shares underlying stock options and warrants have been included in the net loss per share calculation, as their effect is anti-dilutive. Options and warrants to purchase 2,307,274 shares and 2,137,113 shares of common stock at September 30, 2013, and 2012, respectively, have been omitted from the net loss per share calculation.

- Definition

Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.

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