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
3 Months Ended
Mar. 31, 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 warrants and beneficial conversion of related party accounts. The computation of diluted loss per share for the three months ended March  31, 2012 does not include share equivalents in the amount of 14,983,506 as they would have an anti-dilutive effect on the earnings resulting from the Company’s net loss position in that period. 

   
Three Months Ended
   
Three Months Ended
 
   
March 31, 2012
   
March 31, 2011
 
Basic net income (loss)  per share attributable to common shareholders computation:
           
  Net income (loss) attributable to common stockholders
 
$
(708,191
 
$
439,639
 
  Weighted-average common shares outstanding
   
110,846,863
     
4,563,600
 
  Basic net income (loss) per share attributable to common Stockholders
 
$
(0.01
 
$
0.12
 
Diluted net income (loss) per share attributable to common shareholders computation
               
  Net income (loss) attributable to common stockholders
 
$
(708,191
 
$
439,639
 
  Weighted-average common shares outstanding
   
110,846,863
     
4,563,600
 
  Incremental shares attributable to the common stock  equivalents
   
-
     
958,211
 
  Total adjusted weighted-average shares
   
110,846,863
     
5,521,811
 
  Diluted net income (loss) per share attributable to common Stockholders
 
$
(0.01
 
$
0.08