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INCOME (LOSS) PER SHARE | 6 Months Ended
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Jun. 30, 2015
INCOME (LOSS) PER SHARE [Abstract] |
INCOME (LOSS) PER SHARE | NOTE 6 – INCOME (LOSS) PER SHARE Basic income (loss) per share is computed by dividing net income (loss) for the period after consideration of the effect of dividend on preferred stock by the weighted average number of shares outstanding during the period. The income (loss) and the weighted average number of shares used in computing basic and diluted income (loss) per share for the six and three month periods ended June 30, 2015 and 2014 are as follows:
|  | US dollars |  | US dollars |
|  | Six month period ended June 30, |  | Three month period ended June 30, |
|  | 2015 |  |  | 2014 |  | 2015 |  |  | 2014 |
|  | (unaudited) |  | (unaudited) |
Income (loss) for the period |  |  | (3,201,337 | ) |  |  | 4,525,009 |  |  | (1,666,806 | ) |  |  | 5,261,928 |
Cash dividend on Series A Preferred Stock |  |  | (47,036 | ) |  |  | (185,263 | ) |  | (26,522 | ) |  |  | (92,589 | )
Stock dividend on Series B Preferred Stock |  |  | (185,795 | ) |  |  | - |  |  | (102,558 | ) |  |  | - |
Income attributable to participating securities (Preferred Stock) |  |  | - |  |  |  | (842,475 | ) |  | - |  |  |  | (1,003,097 | )
Income (loss) for the period attributable to common stockholders |  |  | (3,434,168 | ) |  |  | 3,497,271 |  |  | (1,795,886 | ) |  |  | 4,166,242 |
|  | Number of shares |  | Number of shares |
|  | Six month period ended June 30, |  | Three month period ended June 30, |
|  | 2015 |  |  | 2014 |  | 2015 |  |  | 2014 |
Number of shares: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common shares used in computing basic |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
income (loss) per share |  |  | 5,382,682 |  |  |  | 5,303,529 |  |  | 5,441,253 |  |  |  | 5,304,072 |
Common shares used in computing diluted |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
income (loss) per share (*) |  |  | 5,382,682 |  |  |  | 5,361,570 |  |  | 5,441,253 |  |  |  | 5,336,019 |
Total weighted average number of common shares related to outstanding convertible Preferred Stock, options and warrants excluded from the calculations of diluted income (loss) per share (**) |  |  | 9,367,247 |  |  |  | 3,324,535 |  |  | 9,537,309 |  |  |  | 3,369,743 |
(*) In applying the treasury method, the average market price of Common Stock was based on management's estimate (see Note 2D, above). (**) The Company excludes from the calculation of diluted income (loss) per share, shares that will be issued upon the exercise of options and warrants with exercise prices, that are greater than the estimated average market value of the Company's Common Stock and shares issuable upon conversion of Preferred Stock because their effect would be anti-dilutive. Outstanding shares that will be issued upon conversion or exercise, as applicable, of all convertible Preferred Stock, stock options and warrants, have been excluded from the calculation of the diluted net loss per share for all the reported periods for which net loss was reported because the effect of the common shares issuable as a result of the exercise or conversion of these instruments was anti-dilutive.

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