Quarterly report pursuant to sections 13 or 15(d)

NOTE 2 - NET INCOME (LOSS) PER COMMON SHARE

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NOTE 2 - NET INCOME (LOSS) PER COMMON SHARE
9 Months Ended
Sep. 30, 2012
Earnings Per Share [Text Block]
NOTE 2 – NET INCOME (LOSS) PER COMMON SHARE

The Company’s basic income per common share is based on net income for the relevant period, divided by the weighted average number of common shares outstanding during the period.  Diluted income per common share is based on net income, divided by the weighted average number of common shares outstanding during the period, including common share equivalents, such as outstanding option, warrants and beneficial conversion of related party accounts. The computation of diluted loss per share for the nine months ended September 30, 2012 does not include share equivalents in the amount of 17,504,000 as they would have an anti-dilutive effect on the earnings resulting from the Company’s net loss position for these periods. 

   
Three Months Ended
   
Three Months Ended
 
   
September 30, 2012
   
September 30, 2011
 
Basic net income (loss)  per share attributable to common shareholders computation:
           
  Net income (loss) attributable to common stockholders
 
$
102,808
   
$
(24,652
)
  Weighted-average common shares outstanding
   
116,949,303
     
4,492,578
 
  Basic net income (loss) per share attributable to common Stockholders
 
$
0.00
   
$
(0.01
)
Diluted net income (loss) per share attributable to common shareholders computation
               
  Net income (loss) attributable to common stockholders
 
$
102,808
   
$
(24,652
)
  Weighted-average common shares outstanding
   
116,949,303
     
4,492,578
 
  Incremental shares attributable to the common stock  equivalents
   
14,334,652
     
-
 
  Total adjusted weighted-average shares
   
131,283,955
     
4,492,578
 
  Diluted net income (loss) per share attributable to common Stockholders
 
$
0.00
   
$
(0.01
)

   
Nine Months Ended
   
Nine Months Ended
 
   
September 30, 2012
   
September 30, 2011
 
Basic net income (loss)  per share attributable to common shareholders computation:
           
  Net income (loss) attributable to common stockholders
 
$
(939,414
)
 
$
2,706,201
 
  Weighted-average common shares outstanding
   
114,873,304
     
4,500,809
 
  Basic net income (loss) per share attributable to common Stockholders
 
$
(0.01
)
 
$
0.60
 
Diluted net income (loss) per share attributable to common shareholders computation
               
  Net income (loss) attributable to common stockholders
 
$
(939,414
)
 
$
2,706,201
 
  Weighted-average common shares outstanding
   
114,873,304
     
4,500,809
 
  Incremental shares attributable to the common stock  equivalents
   
-
     
101,277,181
 
  Total adjusted weighted-average shares
   
114,873,304
     
105,777,990
 
  Diluted net income (loss) per share attributable to common Stockholders
 
$
(0.01
)
 
$
0.03