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Note 4 - Earnings Per Share Common Stock (EPS)
 6 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract]  
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,

 
   

2014

   

2013

   

2014

   

2013

 
                                 

Basic Numerator:

                               

Net (loss) available to common stockholders

  $ (1,026,286

)

  $ (554,831

)

  $ (1,325,500

)

  $ (870,409

)

                                 

Basic Denominator

    116,003,664       87,182,348       115,940,414       84,339,612  

Per Share Amount

    (0.01

)

    (0.01

)

    (0.01

)

    (0.01

)


The following table sets forth the options and warrants which were excluded from the diluted per share calculation even though the exercise prices were less than the average market price of the common shares because the effect of including these potential shares was antidilutive due to the net losses for the three and six months ended June 30, 2014 and 2013:


   

Three Months ended

June 30,

   

Six Months ended

June 30,

 
   

2014

   

2013

   

2014

   

2013

 
                                 

Stock options

    2,938,325       2,157,965       2,069,471       1,407,814  

Warrants

    1,542,245       -       -       -  

Total

    4,480,570       2,157,965       2,069,471       1,407,814  

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,

 
   

2014

   

2013

   

2014

   

2013

 
                                 

Stock options

    410,000       410,000       410,000       510,000  

Warrants

    250,000       8,250,000       30,369,129       8,250,000  

Total

    660,000       8,660,000       30,779,129       8,760,000