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Note 7 - Earnings (Loss) Per Share - Common Stock ("EPS")
 6 Months Ended
Jun. 30, 2016
Notes to Financial Statements  
Earnings Per Share [Text Block]
7.
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, 2016:
 
 
 
Three Months ended
June 30,
 
 
Six Months ended
June 30,
 
 
 
2016
 
 
2015
 
 
2016
 
 
2015
 
Basic Numerator:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
                                 
Net income (loss)
  $ (1,375,489
)
   $ 753,146     $ (2,538,703
)
   $ (170,957
)
Convertible preferred stock dividends
     (200,625
)
     -       (401,250
)
     -  
Net income (loss) available to common stockholders
   $ (1,576,114
)
   $ 753,146     $ (2,939,953
)
   $ (170,957
)
Basic Denominator
     66,276,050       66,001,260       66,199,903       66,001,260  
Per Share Amount
   $ (0.02
)
   $ 0.01     $ (0.04
)
   $ (0.00
)
 
The following table summarizes the weighted average securities that were excluded from the diluted per share calculation because the effect of including these potential shares was antidilutive due to the net losses for the three and six months ended June 30, 2016:
 
 
 
Three Months ended
June 30,
 
 
Six Months ended
June 30,
 
 
 
2016
 
 
2015
 
 
2016
 
 
2015
 
                                 
Preferred stock
     65,000,000       -       65,000,000       -  
Stock options
     156,483       -       41,934       34,349  
Warrants
     -       -       -       -  
Total
     65,156,483       -       65,041,934       34,349  
 
 
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,
 
 
 
2016
 
 
2015
 
 
2016
 
 
2015
 
                                 
Stock options
     2,580,000       3,475,000       2,755,000       3,087,500  
Warrants
     20,455,414       19,622,081       20,455,414       19,622,081  
Total
     23,035,414       23,097,081       23,210,414       22,709,581