Quarterly report pursuant to Section 13 or 15(d)

NOTE 2 - NET INCOME PER COMMON SHARE

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NOTE 2 - NET INCOME PER COMMON SHARE
6 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
NOTE 2 – NET INCOME 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 to the extent they are dilutive. The computation of diluted income per share for the three and six months ended June 30, 2013 does not include share equivalents as all warrants and options exceeded the average market price of the common stock.

   
Three Months Ended
   
Three Months Ended
 
   
June 30, 2014
   
June 30, 2013
 
Basic net income per share computation:
           
  Net income
 
$
59,890
   
$
62,185
 
  Weighted-average common shares outstanding
   
118,176,976
     
117,161,459
 
  Basic net income per share
 
$
0.00
   
$
0.00
 
Diluted net income per share computation:
               
  Net income
 
$
59,890
   
$
62,185
 
  Weighted-average common shares outstanding
   
118,176,976
     
117,161,459
 
  Incremental shares attributable to the common
     stock  equivalents
   
-
     
-
 
  Total adjusted weighted-average shares
   
118,176,976
     
117,161,459
 
  Diluted net income per share
 
$
0.00
   
$
0.00
 

   
Six Months Ended
   
Six Months Ended
 
   
June 30, 2014
   
June 30, 2013
 
Basic net income per share computation:
           
  Net income
 
$
180,631
   
$
177,715
 
  Weighted-average common shares outstanding
   
118,047,142
     
116,991,642
 
  Basic net income per share
 
$
0.00
   
$
0.00
 
Diluted net income per share
               
  Net income
 
$
180,631
   
$
177,715
 
  Weighted-average common shares outstanding
   
118,047,142
     
116,991,642
 
  Incremental shares attributable to the common
      stock  equivalents
   
22,727
     
-
 
  Total adjusted weighted-average shares
   
118,069,869
     
116,991,642
 
  Diluted net income per share
 
$
0.00
   
$
0.00
 

The following table summarizes securities that, if exercised, would have an anti-dilutive effect on earnings per share.

   
6 Months
June 30, 2014
   
6 Months
June 30, 2013
 
Stock options
   
4,773,480
     
2,673,480
 
Warrants
   
500,000
     
750,000
 
                 
Total potential dilutive securities not included in income per share
   
5,273,480
     
3,423,480
 

   
3 Months
June 30, 2014
   
3 Months
June 30, 2013
 
Stock options
   
4,773,480
     
2,673,480
 
Warrants
   
750,000
     
750,000
 
                 
Total potential dilutive securities not included in income per share
   
5,523,480
     
3,423,480