Annual report pursuant to Section 13 and 15(d)

EARNINGS (LOSS) PER SHARE

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EARNINGS (LOSS) PER SHARE
12 Months Ended
Dec. 31, 2014
Notes to Financial Statements  
EARNINGS (LOSS) PER SHARE

Basic Earnings (loss) per share is calculated by dividing the net income (loss) by the weighted average number of outstanding common shares during the period.  Diluted per share data included the dilutive effects of options, warrants and convertible securities.  Potential shares of 3,700,000 and 6,782,000 at December 31, 2014 and 2013, respectively, consisted of options and warrants.  Computations of basic and diluted weighted average common shares outstanding are as follows:

 

 

    2014     2013  
             
Weighted-average common shares outstanding - basic     25,170,346       25,589,238  
                 
Dilutive effect of options and warrants     1,757,984        2,365,447  
                 
Weighted-average common shares outstanding - diluted     26,928,330       27,954,685  
                 
                 
Options and Warrants excluded from the computation of diluted income (loss) per share because the effect of inclusion would have been anti-dilutive     1,942,016       4,417,053