Annual report pursuant to Section 13 and 15(d)

10. Earnings Per Share

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10. Earnings Per Share
 12 Months Ended
Dec. 31, 2012
Earnings Per Share [Abstract]  
10. Earnings Per Share

Basic earnings per share excludes dilution and is computed by dividing income available to common shareholders by the weighted-average number of shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock, except for periods when the Company reports a net loss because the inclusion of such items would be antidilutive.

 

The following is a reconciliation of the amounts used in calculating basic and diluted net income per common share.

 

    Net Income     Shares     Per Share Amount  
                   
Basic net income per common share for the year ended December 31, 2012:                  
Income available to common stockholders   $ 100,423       11,200,025     $ 0.01  
Effect of dilutive stock options             10,914       --  
Diluted net income per common share for the year ended December 31, 2012:   $ 100,423       11,210,939     $ 0.01  
                         
Basic net income per common share for the year ended December 31, 2011:                        
Income available to common stockholders   $ 153,401       11,196,760     $ 0.01  
Effect of dilutive stock options             27,650       --  
Diluted net income per common share for the year ended December 31, 2011:   $ 153,401       11,224,410     $ 0.01