Annual report pursuant to Section 13 and 15(d)

NET LOSS PER SHARE

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NET LOSS PER SHARE
 12 Months Ended
Dec. 31, 2013
Earnings Per Share [Abstract]  
NET LOSS PER SHARE

NOTE 14 – NET LOSS PER SHARE

 

Basic net loss per share is computed by dividing net loss attributable to common shareholders by the weighted average number of common shares outstanding. Diluted net loss per share is computed by dividing net loss attributable to common shareholders by the weighted average number of common shares outstanding plus the number of common shares that would be issued assuming exercise or conversion of all potentially dilutive common shares. Potentially dilutive securities are excluded from the calculation when their effect would be anti-dilutive. For all years presented in the consolidated financial statements, all potentially dilutive securities have been excluded from the diluted share calculations as they were anti-dilutive as a result of the net losses incurred for the respective years. Accordingly, basic shares equal diluted shares for all years presented.

 

Potentially dilutive securities were comprised of the following:

  

    December 31,  
    2013     2012  
             
Warrants     9,711,250       6,339,500  
Options     2,241,100       2,234,000  
Convertible notes payable     225,000       225,000  
      12,977,350       8,798,500