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Note 7 - Earnings (Loss) Per Share Common Stock ("EPS")
 9 Months Ended
Sep. 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 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 nine month periods ended September 30:
 
 
 
Three Months ended
September 30,
 
 
Nine Months ended
September 30,
 
 
 
2016
 
 
2015
 
 
2016
 
 
2015
 
                                 
Basic Numerator:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net loss
   $ (1,134,422
)
   $ (1,079,584
)
   $ (3,673,125
)
   $ (1,250,539
)
Convertible preferred stock dividends
     (200,625
)
     -       (601,875
)
     -  
Net loss available to common stockholders
   $ (1,335,047
)
   $ (1,079,584 )   $ (4,275,000
)
   $ (1,250,539
)
Basic Denominator
     66,360,445       66,038,941       66,253,808       66,013,958  
Per Share Amount
   $ (0.02
)
   $ (0.02
)
   $ (0.06
)
   $ (0.02
)
 
All potential common shares were antidilutive, and accordingly diluted EPS equaled basic EPS for all periods presented in the accompanying financial statements.
 
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 nine months ended September 30:
 
 
 
Three Months ended
September 30,
 
 
Nine Months ended
September 30,
 
 
 
2016
 
 
2015
 
 
2016
 
 
2015
 
                                 
Preferred stock
     65,000,000       -       65,000,000       -  
Stock options
     347,897       12,917       160,770       68,227  
Warrants
     78,342       -       -       -  
Total
     65,426,239       12,917       65,160,770       68,227  
 
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
September 30,
 
 
Nine Months ended
September 30,
 
 
 
2016
 
 
2015
 
 
2016
 
 
2015
 
                                 
Stock options
     2,580,000       3,991,332       2,780,000       2,888,332  
Warrants
     19,880,414       20,455,414       20,455,414       20,455,414  
Total
     22,460,414       24,446,746       23,235,414       23,343,746