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Note 5 - Earnings Per Share (EPS)

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

5.

EARNINGS PER SHARE (“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 numerator of the basic and diluted EPS calculations was as follows for the three month periods ended March 31, 2015 and 2014:

		Three Months ended March 31,
		2015				2014

Basic Numerator:

Net loss		$	(924,103	)		$	(299,214	)

Basic Denominator			66,001,260				57,938,332

Per Share Amount		$	(0.01	)		$	*

* Represents less than ($0.01) per share

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 months ended March 31, 2015 and 2014:

		Three Months ended March 31,
		2015				2014

Stock options			75,760				601,812
Warrants			5,336				-

Total			81,096				601,812

The following table sets forth options and warrants which were 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 March 31,
		2015				2014

Stock options			3,382,805				1,790,000
Warrants			19,047,081				15,184,565

Total			22,429,886				16,974,565

- Definition

The entire disclosure for earnings per share.

+ References+ Details