Quarterly report pursuant to Section 13 or 15(d)

Loss Per Share

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Loss Per Share
6 Months Ended
Jun. 30, 2012
Loss Per Share [Abstract]  
LOSS PER SHARE

NOTE 3 LOSS PER SHARE

Basic loss per share is computed by dividing our net loss by the weighted average number of shares outstanding during the period. Diluted earnings per share is computed by dividing our net loss by the weighted average number of shares outstanding and the impact of all dilutive potential common shares, primarily stock options. The dilutive impact of stock options and warrants is determined by applying the “treasury stock” method.

A total of 27,416,029 and 26,454,352 potential common shares have been excluded from the calculation of net loss per share for the three months ended June 30, 2012 and 2011, respectively, because their inclusion would be anti-dilutive. In addition, a total of 27,243,783 and 27,029,249 potential common shares have been excluded from the calculation of net loss per share for the six months ended June 30, 2012 and 2011, respectively, because their inclusion would be anti-dilutive. As of June 30, 2012, the holders of our Series D Preferred Stock could convert their Preferred Shares into approximately 11,884,944 shares of our Common Stock.

During the six months ended June 30, 2012, we issued 588,372 shares of our Common Stock as a result of Common Stock option and Common Stock warrant exercises.