| EARNINGS PER COMMON SHARE (MEMBERSHIP UNITS) |
NOTE 12. - EARNINGS PER COMMON SHARE
The
following table sets forth the computation of basic and diluted
earnings per common share for the six months ended June
30:
|
|
|
2011
|
|
|
2010
|
|
| |
|
|
|
|
|
|
|
Net
loss attributed to common shareholders
|
|
$ |
(1,754,987 |
) |
|
$ |
(690,113 |
) |
| |
|
|
|
|
|
|
|
|
|
Denominator
for basic earnings per share-weighted average shares
outstanding
|
|
|
25,556,710
|
|
|
|
9,153,410
|
|
| |
|
|
|
|
|
|
|
|
|
Effect
of dilutive securities:
|
|
|
|
|
|
|
|
|
|
warrants
outstanding
|
|
|
- |
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
Denominator
for diluted earnings per common
share - weighted average shares adjusted for dilutive
securities
|
|
|
25,556,710 |
|
|
|
9,153,410 |
|
| |
|
|
|
|
|
|
|
|
|
Loss
per common share - basic
|
|
$ |
(0.07 |
) |
|
$ |
(0.08 |
) |
| |
|
|
|
|
|
|
|
|
|
Loss
per common share- diluted
|
|
$ |
(0.07 |
) |
|
$ |
(0.08 |
) |
Securities
outstanding that were excluded from the computation because they
would have been anti-dilutive are as follows:
|
|
|
2011
|
|
|
2010
|
|
|
Warrants
|
|
|
8,651,979
|
|
|
|
4,804,523
|
|
|
Restricted
Stock
|
|
|
700,000
|
|
|
|
-
|
|
|
Options
|
|
|
35,000
|
|
|
|
-
|
|
NOTE 11. - EARNINGS PER MEMBERSHIP UNIT
The
following table sets forth the computation of basic and diluted
earnings per share for the years ended
December 31:
|
|
|
2010
|
|
|
2009
|
|
| |
|
|
|
|
|
|
|
Net
loss attributed to members
|
|
$ |
(1,423,632 |
) |
|
$ |
(1,226,685 |
) |
| |
|
|
|
|
|
|
|
|
|
Denominator
for basic earnings per share-weighted average units
outstanding
|
|
|
12,437,983
|
|
|
|
5,304,423
|
|
| |
|
|
|
|
|
|
|
|
|
Effect
of dilutive securities: warrants outstanding
|
|
|
- |
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
|
Denominator
for diluted earnings per unit - weighted average units adjusted for
dilutive securities
|
|
|
12,437,983 |
|
|
|
5,304,423 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
2010 |
|
|
|
2009 |
|
| |
|
|
|
|
|
|
|
|
|
Loss
per common unit- basic
|
|
$ |
(0.11 |
) |
|
$ |
(0.23 |
) |
| |
|
|
|
|
|
|
|
|
|
Loss
per common unit- diluted
|
|
$ |
(0.11 |
) |
|
$ |
(0.23 |
) |
Securities
outstanding that were excluded from the computation because they
would have been anti-dilutive are as follows:
|
|
|
2010
|
|
|
2009
|
|
| |
|
|
|
|
|
|
|
Debt
convertible into units (number of units)
|
|
|
-
|
|
|
|
197,679
|
|
|
Warrants
|
|
|
-
|
|
|
|
1,688,076
|
|