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Note 6 - Earnings (Loss) Per Share Common Stock ("EPS")
 6 Months Ended
Jun. 30, 2015
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]

6.

EARNINGS (LOSS) PER SHARE COMMON STOCK (“EPS”)

The Company’s basic EPS is calculated using net income (loss) available to common stockholders 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,

  
   

2015

    

2014

    

2015

    

2014

  
                                 

Basic Numerator:

                                

Net income (loss) available to common stockholders

   $ 753,146     $ (1,026,286

)

   $ (170,957

)

   $ (1,325,500

)
                                 

Basic Denominator

     66,001,260       58,001,934       66,001,260       57,970,309  

Per Share Amount

     0.01       (0.02

)

     (0.00

)

     (0.02

)

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 for the three and six months ended June 30:


   

Three Months ended

June 30,

    

Six Months ended

June 30,

  
   

2015

    

2014

    

2015

    

2014

  
                                 

Stock options

     -       1,469,162       34,349       1,034,736  

Warrants

     -       771,123       -       -  

Total

     -       2,240,285       34,349       1,034,736  

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,

  
   

2015

    

2014

    

2015

    

2014

  
                                 

Stock options

     3,475,000       205,000       3,087,500       205,000  

Warrants

     19,622,081       125,000       19,622,081       15,184,565  

Total

     23,097,081       330,000       22,709,581       15,389,565