Quarterly report pursuant to Section 13 or 15(d)

NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v2.4.0.6
NATURE OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
3 Months Ended
Mar. 31, 2013
Accounting Policies [Abstract]  
Schedule Fair Value Options
  THREE MONTHS ENDED MARCH 31,
  2013   2012
Risk-free interest rates 0.78%   0.71% - 0.89%
Expected option life in years 5 years   5 years
Expected stock price volatility 43.54%   45.86%
Expected dividend yield -0-   -0-
Schedule Earnings Per Share
 

Three Months Ended

         March 31,           

  2013 2012
     
Weighted-average common shares outstanding – basic 25,013,484 25,549,328
Dilutive effect of options and warrants  2,441,910 3,513,689

Weighted-average common shares outstanding – diluted

 

27,455,394 29,063,017
Options and Warrants excluded from the computation of diluted income (loss) per share because the effect of inclusion would have been anti-dilutive

 

 

 

 3,323,090

 

 

 

  4,500,647

Schedule of Cash and Cash Equivalents
  March 31, 2013 December 31, 2012
     
Cash $1,066,000         $   1,346,000        
Money market fund        18,745,000         20,637,000        
Total $     19,811,000         $ 21,983,000