Annual report pursuant to Section 13 and 15(d)

Basic and Diluted Net Income (Loss) Per Share

Basic and Diluted Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2014

Basic and Diluted Net Income (Loss) Per Share

NOTE 13 – BASIC AND DILUTED NET INCOME (LOSS) PER SHARE

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

	Year ended December 31, 2014
		Net Loss (Numerator)		Shares (Denominator)		Per share amount
Basic loss per share	$	(16,994,625	)	60,225,524	$	(0.28	)
Effect of dilutive securities—Common stock options and warrants		-		-		-
Diluted loss per share	$	(16,994,625	)	60,225,524	$	(0.28	)

	Year ended December 31, 2013
	Net Loss (Numerator)			Shares (Denominator)		Per share amount
Basic loss per share	$	(4,361,165	)		33,229,093	$	(0.13	)
Effect of dilutive securities—Common stock options and warrants		-			-		-
Diluted loss per share	$	(4,361,165	)		33,229,093	$	(0.13	)

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

	December 31, 2014		December 31, 2013
Common stock options		26,156,553		15,290,486
Common stock warrants		28,435,782		-
Total common stock equivalents		54,592,335		15,290,486