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Net Income (Loss) Per Share
12 Months Ended
Dec. 31, 2013
Net Income (Loss) Per Share [Abstract]  
Net Income (Loss) Per Share
 
12.      Net Income (Loss) Per Share
 
Basic net income (loss) per share is computed by dividing the net income (loss) for the period by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share is computed by dividing the net income (loss) for the period by the weighted average number of common and potentially dilutive common shares outstanding during the period. Potentially dilutive common shares consist of the common shares issuable upon the exercise of stock options and warrants. Potentially dilutive common shares are excluded from the calculation if their effect is antidilutive. At December 31, 2013 basic and diluted common shares outstanding exclude 500,000 common shares that are held in escrow and subject to forfeiture. At December 31, 2013, there were options and warrants to purchase 10,330,001 and 6,119,864 shares of common stock, respectively, outstanding which could potentially dilute future net income (loss) per share. At December 31, 2013 the Company also has outstanding convertible debt which is initially convertible into 4,818,605 shares of common stock, which could potentially dilute future net income (loss) per share. The number of shares the convertible debt could be converted into could potentially increase under certain circumstances related to the market price of the Company’s common stock at the time of conversion. At December 31, 2012, there were options and warrants to purchase 9,317,501 and 3,869,444 shares of common stock, respectively, outstanding which could potentially dilute future net income (loss) per share. At December 31, 2012 the Company also had outstanding convertible debt which was initially convertible into 4,320,000 shares of common stock, which could potentially dilute future net income (loss) per share.
 
Basic and diluted net loss per share was calculated for the years ending December 31, 2013 and 2012 as follows:
 
   
2013
  
2012
 
Net loss
 $
(2,163,302
) $(1,766,025)
          
Weighted average shares outstanding - basic
  
42,327,819
   41,378,216 
Dilutive effect of stock options and warrants
  -   - 
Weighted average shares outstanding - diluted
  
42,327,819
   41,378,216 
          
Net loss per share - basic and diluted
 $(0.05) $(0.04)