General form of registration statement for all companies including face-amount certificate companies

EARNINGS PER COMMON SHARE (MEMBERSHIP UNITS)

 v2.3.0.11
EARNINGS PER COMMON SHARE (MEMBERSHIP UNITS)
6 Months Ended 12 Months Ended
Jun. 30, 2011
Dec. 31, 2010
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