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
6 Months Ended
Jun. 30, 2011
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.

   
Six Months Ended
   
Six Months Ended
 
   
June 30, 2011
   
June 30, 2010
 
Basic net income (loss)  per share attributable to common shareholders computation:
           
  Net income (loss) attributable to common stockholders
 
$
2,730,853
   
$
(328,313
  Weighted-average common shares outstanding
   
4,504,992
     
3,360,793
 
  Basic net income (loss) per share attributable to common Stockholders
 
$
0.61
   
$
(0.10
Diluted net income (loss) per share attributable to common shareholders computation
               
  Net income (loss) attributable to common stockholders
 
$
2,730,853
   
$
(328,313
  Weighted-average common shares outstanding
   
4,504,992
     
3,360,793
 
  Incremental shares attributable to the common stock  equivalents
   
101,277,181
     
-
 
  Total adjusted weighted-average shares
   
105,782,173
     
3,360,793
 
  Diluted net income (loss) per share attributable to common Stockholders
 
$
0.03
   
$
(0.10

   
Three Months Ended
   
Three Months Ended
 
   
June 30, 2011
   
June 30, 2010
 
Basic net income (loss)  per share attributable to common shareholders computation:
           
  Net income (loss) attributable to common stockholders
 
$
2,291,214
   
$
(751,608
  Weighted-average common shares outstanding
   
4,447,028
     
3,432,716
 
  Basic net income (loss) per share attributable to common Stockholders
 
$
0.52
   
$
(0.22
Diluted net income (loss) per share attributable to common shareholders computation
               
  Net income (loss) attributable to common stockholders
 
$
2,291,214
   
$
(751,608
  Weighted-average common shares outstanding
   
4,447,028
     
3,432,716
 
  Incremental shares attributable to the common stock  equivalents
   
101,277,181
     
-
 
  Total adjusted weighted-average shares
   
105,724,210
     
3,432,716
 
  Diluted net income (loss) per share attributable to common Stockholders
 
$
0.02
   
$
(0.22