Quarterly report pursuant to Section 13 or 15(d)

NOTE 3 - NET INCOME PER COMMON SHARE (Tables)

v2.4.0.8
NOTE 3 - NET INCOME PER COMMON SHARE (Tables)
9 Months Ended
Sep. 30, 2014
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] 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 stock options and warrants to the extent they are dilutive. The computation of diluted income per share for the three and nine months ended September 30, 2013 does not include share equivalents as all warrants and options exceeded the average market price of the common stock and were therefore antidilutive.

   
Three Months
Ended
   
Three Months 
Ended
   
Nine Months
Ended
   
Nine Months
Ended
 
   
September 30,
2014
   
September 30,
2013
   
September 30,
2014
   
September 30,
2013
 
Basic net income (loss) per share computation:
                       
Net income (loss)
 
$
248,165
   
$
(82,219
)
 
$
428,796
   
$
95,496
 
Weighted-average common shares outstanding
   
118,377,734
     
117,195,173
     
118,158,550
     
117,060,232
 
Basic net income (loss) per share
 
$
0.00
   
$
0.00
   
$
0.00
   
$
0.00
 
Diluted net income (loss) per share computation:
                               
Net income (loss)
 
$
248,165
   
$
(82,219
)
 
$
428,796
   
$
95,496
 
Weighted-average common shares outstanding
   
118,377,734
     
117,195,173
     
118,158,550
     
117,060,232
 
Incremental shares attributable to the common
stock equivalents
   
43,548
     
-
     
30,715
     
-
 
Total adjusted weighted-average shares
   
118,421,282
     
117,195,173
     
118,189,265
     
117,060,232
 
Diluted net income (loss) per share
 
$
0.00
   
$
0.00
   
$
0.00
   
$
0.00
 
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] The following table summarizes securities that, if exercised, would have an anti-dilutive effect on earnings per share.

   
Nine Months
September 30, 2014
   
Nine Months
September 30, 2013
 
Stock options
   
5,073,480
     
2,673,480
 
Warrants
   
500,000
     
750,000
 
                 
Total potential dilutive securities not included in income per share
   
5,573,480
     
3,423,480
 
   
Three Months
September 30, 2014
   
Three Months
September 30, 2013
 
Stock options
   
5,073,480
     
2,673,480
 
Warrants
   
500,000
     
750,000
 
                 
Total potential dilutive securities not included in income per share
   
5,573,480
     
3,423,480