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Note 4 - Earnings (Loss) Per Share (EPS)
 6 Months Ended
Jun. 30, 2012
Earnings Per Share [Text Block]
4.              EARNINGS (LOSS) PER SHARE COMMON STOCK (“EPS”)

The Company’s basic EPS is calculated using net income (loss) available to common shareholders and the weighted-average number of shares outstanding during the reporting period. Diluted EPS includes the effect from potential issuance of common stock, such as stock issuable pursuant to the exercise of stock options and warrants and the assumed conversion of convertible notes and preferred stock.

The reconciliation of the numerators of the basic and diluted EPS calculations was as follows for both of the following three and six month periods ended June 30:

   
Three Months ended June 30,
   
Six Months ended June 30,
 
   
2012
   
2011
   
2012
   
2011
 
                         
Basic Numerator:
                       
(Loss) available to common stockholders
  $ (613,419 )   $ (594,224 )   $ (249,921 )   $ (354,154 )
                                 
Basic Denominator
    78,155,413       78,155,413       78,155,413       78,155,413  
Per Share Amount
    (0.01 )     (0.01 )     0.00       0.00  

There were no weighted average shares of common stock that were included in the diluted per share calculation for the three and six month periods ended June 30, 2012, and June 30, 2011, as the effects would have been anti-dilutive.

   
Three Months ended June 30,
   
Six Months ended June 30,
 
   
2012
   
2011
   
2012
   
2011
 
                         
Dilutive Numerator:
                       
(Loss) available to common stockholders
  $ (613,419 )   $ (594,224 )   $ (249,921 )   $ (354,154 )
                                 
Dilutive Denominator:
    78,155,413       78,155,413       78,155,413       78,155,413  
Per Share Amount
    (0.01 )     (0.01 )     0.00       0.00  

Items excluded from the diluted per share calculation because the exercise price was greater than the average market price of the common shares:

   
Three Months Ended 
June 30,
   
Six Months Ended 
June 30,
 
   
2012
   
2011
   
2012
   
2011
 
                         
Stock options
    4,578,749       2,527,140       4,578,749       2,507,140  
Warrants
    8,250,000       9,986,615       8,250,000       9,986,615  
Total
    12,828,749       12,513,755       12,828,749       12,493,755  

In addition, 741 and 625 options for the three and six months ended June 30, 2012, respectively, were excluded from the diluted per share calculation as the Company incurred a loss for both periods.