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LOSS PER COMMON SHARE | 3 Months Ended
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Sep. 30, 2012
Earnings Per Share [Abstract] |
LOSS PER COMMON SHARE | 8. LOSS PER COMMON SHARE The following is a reconciliation of the numerators and denominators of the basic and diluted loss per common share computations for the three and nine months ended:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
|  | (unaudited) |  |  | (unaudited) |
Numerator for basic and diluted loss per common share: |  |  |  |  |  |  |  |  |  |  |  |
Net loss per common share -basic and diluted |  | $ | (1,398,010 | ) |  | $ | (646,660 | ) |  | $ | (3,524,461 | ) |  | $ | (1,461,921 | )
Denominator for basic and diluted loss per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average number of shares Outstanding |  |  | 4,298,150 |  |  |  | 3,203,346 |  |  |  | 4,077,600 |  |  |  | 2,657,202 |
Basic and diluted loss per common share |  | $ | (0.33 | ) |  | $ | (0.20 | ) |  | $ | (0.86 | ) |  | $ | (0.55 | )
Due to their anti-dilutive effect, the potential common shares have been excluded from the computation of diluted loss per share:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
|  | (unaudited) |  |  | (unaudited) |
Warrants |  |  | 3,811,119 |  |  |  | 2,492,861 |  |  |  | 3,811,119 |  |  |  | 2,492,861 |
Stock options |  |  | 1,840,556 |  |  |  | 787,778 |  |  |  | 1,840,556 |  |  |  | 787,778 |
Convertible notes |  |  | 2,304,478 |  |  |  | 1,438,497 |  |  |  | 2,304,478 |  |  |  | 1,438,497 |
Series A Preferred |  |  | 1,292,492 |  |  |  | 1,396,742 |  |  |  | 1,292,492 |  |  |  | 1,396,742 |
Series B Preferred |  |  | 2,993,504 |  |  |  | 3,051,884 |  |  |  | 2,993,504 |  |  |  | 3,051,884 |
Series C Preferred |  |  | 451,750 |  |  |  | 451,750 |  |  |  | 451,750 |  |  |  | 451,750 |
|  |  | 12,693,899 |  |  |  | 9,619,512 |  |  |  | 12,693,899 |  |  |  | 9,619,512 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=16381557&loc=d3e4984-109258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 40 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 + Details
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