Quarterly report pursuant to Section 13 or 15(d)

NET LOSS PER SHARE

 v2.3.0.11
NET LOSS PER SHARE
 6 Months Ended
Jun. 30, 2011
NET LOSS PER SHARE
8.
NET LOSS PER SHARE

Basic and diluted net loss per share is computed by dividing net loss attributable to common stockholders by the weighted average number of shares of common stock outstanding during the period. Potential common stock equivalents consist of stock options, warrants and convertible preferred stock and accumulated dividends.  Since the Company has a net loss for the three and six months ended June 30, 2011, the inclusion of common stock equivalents in the computation would be antidilutive. Accordingly, basic and diluted net loss per share are the same for the three and six months ended June 30, 2011.
 
The following potentially dilutive securities have been excluded from the computation of diluted net loss per share since their inclusion would be antidilutive:
 
   
Three Months Ended
June 30,
    
Six Months Ended June
30,
    
Cumulative
Development-
Stage Period from
November 7, 2002
(inception)
through June 30,
  
   
2011
    
2010
    
2011
    
2010
    
2011
  
Convertible debt
     —       3,448,026       —       3,448,026       —  
Warrants
     7,327,322       —       7,327,322       —       7,327,322  
Stock options
     3,632,638       1,133,774       3,632,638       1,133,774       3,632,638