Quarterly report pursuant to sections 13 or 15(d)

NOTE 2 - NET INCOME (LOSS) PER COMMON SHARE

v2.4.0.6
NOTE 2 - NET INCOME (LOSS) PER COMMON SHARE
6 Months Ended
Jun. 30, 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 option, warrants and beneficial conversion of related party accounts. The computation of diluted loss per share for the three and six months ended June 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
 
   
June 30, 2012
   
June 30, 2011
 
Basic net income (loss)  per share attributable to common shareholders computation:
           
  Net income (loss) attributable to common stockholders
 
$
(334,031
 
$
2,291,214
 
  Weighted-average common shares outstanding
   
116,800,933
     
4,447,028
 
  Basic net income (loss) per share attributable to common Stockholders
 
$
(0.00
 
$
0.52
 
Diluted net income (loss) per share attributable to common shareholders computation
               
  Net income (loss) attributable to common stockholders
 
$
(334,031
 
$
2,291,214
 
  Weighted-average common shares outstanding
   
116,800,933
     
4,447,028
 
  Incremental shares attributable to the common stock  equivalents
   
-
     
101,277,181
 
  Total adjusted weighted-average shares
   
116,800,933
     
105,724,210
 
  Diluted net income (loss) per share attributable to common Stockholders
 
$
(0.00
 
$
0.02
 

   
Six Months Ended
   
Six Months Ended
 
   
June 30, 2012
   
June 30, 2011
 
Basic net income (loss)  per share attributable to common shareholders computation:
           
  Net income (loss) attributable to common stockholders
  $ (1,042,222 )   $ 2,730,853  
  Weighted-average common shares outstanding
    113,823,898       4,504,992  
  Basic net income (loss) per share attributable to common Stockholders
  $ (0.01 )   $ 0.61  
Diluted net income (loss) per share attributable to common shareholders computation
               
  Net income (loss) attributable to common stockholders
  $ (1,042,222 )   $ 2,730,853  
  Weighted-average common shares outstanding
    113,823,898       4,504,992  
  Incremental shares attributable to the common stock  equivalents
    -       101,277,181  
  Total adjusted weighted-average shares
    113,823,898       105,782,173  
  Diluted net income (loss) per share attributable to common Stockholders
  $ (0.01 )   $ 0.03