Quarterly report pursuant to Section 13 or 15(d)

NET LOSS PER SHARE

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NET LOSS PER SHARE
3 Months Ended
Mar. 31, 2014
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
7.   NET LOSS PER SHARE
 
Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss, as adjusted, by the sum of the weighted average number of shares of common stock and the dilutive potential common stock equivalents then outstanding.  Potential common stock equivalents consist of stock options and warrants and convertible debt.  Since there is a net loss attributable to common stockholders for the three months ended March 31, 2014 and 2013, the inclusion of common stock equivalents in the computation for those periods would be antidilutive. Accordingly, basic and diluted net loss per share is the same for all periods presented.
 
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 March 31,
 
Cumulative
Development-Stage
Period from November
7, 2002 (inception)
through March 31,
 
 
 
 
2014
2013
 
 
2014
 
Warrants
 
 
39,282,459
 
 
36,782,459
 
 
39,282,459
 
Stock options
 
 
12,079,585
 
 
6,291,638
 
 
12,079,585
 
Convertible debt
 
 
8,000,000
 
 
 
 
8,000,000