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)
 6 Months Ended
Jun. 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   $ -     $ -     $ 18,750  
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 Six Months ended June 30, 2012     For the Six Months ended June 30, 2011  
Numerator:            
Loss from continuing operations   $ (3,216,554 )   $ (1,537 )
Loss from discontinued operations   $ (1,329,925 )   $ -  
                 
Denominator:                
Denominator for basic and diluted loss per share                
(weighted-average shares)     36,069,915       10,000,000  
                 
Loss per common share, basic and diluted:                
Loss from continuing operations   $ (0.09 )   $ ( 0.00 )
Loss from discontinued operations   $ (0.04 )   $ (0.00 )