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, 2013
Earnings Per Share [Abstract]  
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 and warrants. The computation of diluted income per share for the nine months ended September 30, 2013 does not include share equivalents as all warrants and options exceeded the market price of the common stock as of September 30, 2013. The computation of diluted loss per share for the three months ended September 30, 2013 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. 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
   
Nine Months
Ended
   
Nine Months
Ended
 
   
September 30,
2013
   
September 30,
2012
   
September 30,
2013
   
September 30,
2012
 
Basic net income (loss) per share computation:
                       
Net income (loss)
  $ (82,219 )   $ 102,808     $ 95,496     $ (939,414 )
Weighted-average common shares outstanding
    117,195,173       116,949,303       117,060,232       114,873,304  
Basic net income (loss) per share
  $ 0.00     $ 0.00     $ 0.00     $ (0.01 )
Diluted net income (loss) per share computation:
                               
Net income (loss)
  $ (82,219 )   $ 102,808     $ 95,496     $ (939,414 )
Weighted-average common shares outstanding
    117,195,173       116,949,303       117,060,232       114,873,304  
Incremental shares attributable to the common stock equivalents
    -       14,334,652       -       -  
Total adjusted weighted-average shares
    117,195,173       131,283,955       117,060,232       114,873,304  
Diluted net income (loss) per share
  $ 0.00     $ 0.00     $ 0.00     $ (0.01 )