Quarterly report pursuant to sections 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v2.4.0.6
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
9 Months Ended
Sep. 30, 2012
Other Liabilities Disclosure [Abstract]  
Investment measured at fair value on a recurring basis
Investment measured at fair value on a recurring basis:
 
   
Fair Value Measurements Using:
 
  
 
Quoted Prices
in Active
Markets
(Level 1)
   
Significant
Other
Observable
Inputs
(Level 2)
   
Significant
Unobservable
Inputs
(Level 3)
 
  
                 
Marketable securities – available for sale, net of discount for effect of restriction
 
$
-
   
$
-
   
$
12,500
 
 
The computation of basic and diluted loss per share
The following table sets forth the computation of basic and diluted loss per share:
 
   
For the Nine Months ended September 30, 2012
   
For the Nine Months ended September 30, 2011
 
Numerator:
           
Loss from continuing operations
 
$
(5,022,923
)
 
$
(3,990
)
Loss from discontinued operations
 
$
(1,426,846
)
 
$
-
 
                 
Denominator:
               
Denominator for basic and diluted loss per share
               
(weighted-average shares)
   
35,328,936
     
10,000,000
 
                 
Loss per common share, basic and diluted:
               
Loss from continuing operations
 
$
(0.14
)
 
$
( 0.00
)
Loss from discontinued operations
 
$
(0.04
)
 
$
(0.00
)