Quarterly report pursuant to Section 13 or 15(d)

Basic and Diluted Net Income (Loss) Per Share (Tables)

Basic and Diluted Net Income (Loss) Per Share (Tables)

3 Months Ended

Mar. 31, 2016

Schedule of Basic and Diluted Net Income (Loss)

The following table sets forth the computation of the Company’s basic and diluted net income (loss) per share for the three-months ended:

	Three-months ended March 31, 2016
		Net Loss (Numerator)		Shares (Denominator)		Per share amount
Basic loss per share	$	(677,746	)	69,087,955	$	(0.01	)
Effect of dilutive securities—Common stock options and warrants		-		-		-
Diluted loss per share	$	(677,746	)	69,087,955	$	(0.01	)

	Three-months ended March 31, 2015
		Net Loss (Numerator)		Shares (Denominator)		Per share amount
Basic loss per share	$	(1,116,155	)	64,269,818	$	(0.02	)
Effect of dilutive securities—Common stock options and warrants		-		-		-
Diluted loss per share	$	(1,116,155	)	64,269,818	$	(0.02	)

Schedule of Computation of Diluted Net Income (Loss) Per Share

The following outstanding shares of common stock equivalents were excluded from the computation of diluted net loss per share for the periods presented because including them would have been antidilutive for the periods ended:

	March 31, 2016		March 31, 2015
Common stock options		40,112,823		27,752,315
Common stock warrants		46,413,374		31,781,610
Total common stock equivalents		86,526,197		59,533,925