Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2015 | 8-May-15 | |
Document And Entity Information | ||
Entity Registrant Name | INFORMATION ANALYSIS INC | |
Entity Central Index Key | 803578 | |
Document Type | 10-Q | |
Document Period End Date | 31-Mar-15 | |
Amendment Flag | FALSE | |
Current Fiscal Year End Date | -19 | |
Is Entity a Well-known Seasoned Issuer? | No | |
Is Entity a Voluntary Filer? | No | |
Is Entity's Reporting Status Current? | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 11,201,760 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2015 |
BALANCE_SHEETS_Unaudited
BALANCE SHEETS (Unaudited) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
ASSETS | ||
Cash and cash equivalents | $2,122,914 | $2,450,006 |
Accounts receivable, net | 1,110,325 | 970,621 |
Prepaid expenses and other current assets | 486,810 | 759,982 |
Note receivable, current | 4,092 | 3,896 |
Total current assets | 3,724,141 | 4,184,505 |
Property and equipment, net | 48,254 | 53,675 |
Note receivable - long term | 4,250 | 5,102 |
Other assets | 6,281 | 6,281 |
Total assets | 3,782,926 | 4,249,563 |
LIABILITIES & STOCKHOLDERS' EQUITY | ||
Accounts payable | 62,531 | 32,327 |
Commissions payable | 1,004,079 | 1,017,047 |
Deferred revenue | 451,109 | 737,994 |
Accrued payroll and related liabilities | 228,345 | 255,703 |
Other accrued liabilities | 28,427 | 116,097 |
Total liabilities | 1,774,491 | 2,159,168 |
Stockholders' equity: | ||
Common stock, par value $0.01, 30,000,000 shares authorized; 12,844,376 shares issued, 11,201,760 shares outstanding as of March 31, 2015 and December 31, 2014 | 128,443 | 128,443 |
Additional paid-in capital | 14,616,758 | 14,613,887 |
Accumulated deficit | -11,806,555 | -11,721,724 |
Treasury stock, 1,642,616 shares at cost | -930,211 | -930,211 |
Total stockholders' equity | 2,008,435 | 2,090,395 |
Total liabilities and stockholders' equity | $3,782,926 | $4,249,563 |
BALANCE_SHEETS_Parenthetical
BALANCE SHEETS (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Stockholders Equity | ||
Common Stock shares par value | $0.01 | $0.01 |
Common Stock shares Authorized | 30,000,000 | 30,000,000 |
Common Stock shares Issued | 12,844,376 | 12,844,376 |
Common Stock shares Outstanding | 11,201,760 | 11,201,760 |
Treasury Stock | 1,642,616 | 1,642,616 |
STATEMENTS_OF_OPERATIONS_AND_C
STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Revenues | ||
Professional fees | $1,115,096 | $875,260 |
Software sales | 361,027 | 304,550 |
Total revenues | 1,476,123 | 1,179,810 |
Cost of revenues | ||
Cost of professional fees | 643,284 | 497,827 |
Cost of software sales | 348,584 | 227,705 |
Total cost of revenues | 991,868 | 725,532 |
Gross profit | 484,255 | 454,278 |
Selling, general and administrative expenses | 432,094 | 445,819 |
Commissions expense | 139,471 | 108,677 |
Loss from operations | -87,310 | -100,218 |
Other income | 2,479 | 2,699 |
Loss before provision for income taxes | -84,831 | -97,519 |
Provision for income taxes | 0 | 0 |
Net loss | -84,831 | -97,519 |
Comprehensive income | ($84,831) | ($97,519) |
Loss per common share: | ||
Basic: | ($0.01) | ($0.01) |
Diluted: | ($0.01) | ($0.01) |
Weighted average common shares outstanding | ||
Basic | 11,201,760 | 11,201,760 |
Diluted | 11,201,760 | 11,201,760 |
STATEMENTS_OF_CASH_FLOWS_Unaud
STATEMENTS OF CASH FLOWS (Unaudited) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Cash flows from operating activities: | ||
Net loss | ($84,831) | ($97,519) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
Depreciation and amortization | 7,805 | 7,585 |
Stock option compensation | 2,871 | 5,254 |
Changes in operating assets and liabilities | ||
Accounts receivable | -139,704 | 644,025 |
Prepaid expenses and other current assets | 273,172 | 42,469 |
Accounts payable, accrued payroll and related liabilities, and other accrued liabilities | -84,824 | -572,553 |
Commissions payable | -12,968 | -49,525 |
Deferred revenue | -286,885 | -58,639 |
Net cash used in operating activities | -325,364 | -78,903 |
Cash flows from investing activities: | ||
Acquisition of furniture and equipment | -2,384 | -13,214 |
Payments received on note receivable | 656 | 1,442 |
Net cash used in investing activities | -1,728 | -11,772 |
Net decrease in cash and cash equivalents | -327,092 | -90,675 |
Cash and cash equivalents, beginning of the period | 2,450,006 | 2,359,527 |
Cash and cash equivalents, end of the period | 2,122,914 | 2,268,852 |
Supplemental cash flow information | ||
Interest paid | 0 | 0 |
Income taxes paid | $0 | $0 |
1_Basis_of_Presentation
1. Basis of Presentation | 3 Months Ended |
Mar. 31, 2015 | |
Basis Of Presentation | |
1. Basis of Presentation | Organization and Business |
Information Analysis Incorporated (“IAI”, or the “Company”) was incorporated under the corporate laws of the Commonwealth of Virginia in 1979 to develop and market computer applications software systems, programming services, and related software products and automation systems. The Company provides services to customers throughout the United States, with a concentration in the Washington, D.C. metropolitan area. | |
Unaudited Interim Financial Statements | |
The accompanying unaudited financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions for Form 10-Q and Article 8-03 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. In the opinion of management, the unaudited financial statements include all adjustments necessary (which are of a normal and recurring nature) for the fair and not misleading presentation of the results of the interim periods presented. These unaudited financial statements should be read in conjunction with our audited financial statements for the year ended December 31, 2014 included in the Annual Report on Form 10-K filed by the Company with the Securities and Exchange Commission on March 20, 2015 (the “Annual Report”). The accompanying December 31, 2014 financial information was derived from our audited financial statements included in the Annual Report. The results of operations for any interim period are not necessarily indicative of the results of operations for any other interim period or for a full fiscal year. | |
There have been no changes in the Company’s significant accounting policies as of March 31, 2015 as compared to the significant accounting policies disclosed in Note 1, "Summary of Significant Accounting Policies" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31. 2014 that was filed with the SEC on March 20, 2015. | |
Use of Estimates and Assumptions | |
The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results can, and in many cases will, differ from those estimates. | |
Income Taxes | |
As of March 31, 2015, there have been no material changes to the Company’s uncertain tax position disclosures as provided in Note 7 of the Annual Report. The Company does not anticipate that total unrecognized tax benefits will significantly change prior to March 31, 2015. | |
2_Recent_Accounting_Pronouncem
2. Recent Accounting Pronouncements | 3 Months Ended |
Mar. 31, 2015 | |
Recent Accounting Pronouncements | |
2. Summary of Significant Accounting Policies | From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board ("FASB"), or other standard setting bodies that the Company adopts as of the specified effective date. |
In May 2014, FASB issued Accounting Standards Update ("ASU") No. 2014-09 ("Topic 606"), "Revenue from Contracts with Customers." This new standard will replace most existing revenue recognition guidance in U.S. GAAP. The core principle of the ASU is that an entity should recognize revenue for the transfer of goods or services equal to the amount it expects to receive for those goods and services. The ASU requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and estimates and changes in those estimates. The ASU will be effective for the Company beginning January 1, 2017, and allows for both retrospective and modified-retrospective methods of adoption. The Company is in the process of determining the method of adoption it will elect and is currently assessing the impact of this ASU on its financial statements and footnote disclosures. | |
3_StockBased_Compensation
3. Stock-Based Compensation | 3 Months Ended | ||||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||||
Stock-based Compensation | |||||||||||||||||||||||||||||||
3. Stock-Based Compensation | At March 31, 2015, the Company had the stock-based compensation plans described below. Total compensation expense related to these plans was $2,871 and $5,254 for the quarters ended March 31, 2015 and 2014, respectively, of which $0 and $564, respectively, related to options awarded to non-employees. The Company estimates the fair value of options granted using a Black-Scholes valuation model to establish the expense. When stock-based compensation is awarded to employees, the expense is recognized ratably over the vesting period. When stock-based compensation is awarded to non-employees, the expense is recognized over the period of performance. | ||||||||||||||||||||||||||||||
There were 20,000 option awards granted to employees and members of the Board of Directors in the three months ended March 31, 2015 and there were no option awards granted to employees and no option awards granted to non-employees in the three months ended March 31, 2014. The fair values of option awards granted in the three months ended March 31, 2015 were estimated using the Black-Scholes option pricing model using the following assumptions: | |||||||||||||||||||||||||||||||
2015 | |||||||||||||||||||||||||||||||
Risk free interest rate | 1.61 – 1.97 | % | |||||||||||||||||||||||||||||
Dividend yield | 0 | % | |||||||||||||||||||||||||||||
Expected term | 5-10 years | ||||||||||||||||||||||||||||||
Expected volatility | 41.2 – 54.2 | % | |||||||||||||||||||||||||||||
The status of the options issued as of March 31, 2015 and changes during the three months ended March 31, 2015 and 2014 were as follows: | |||||||||||||||||||||||||||||||
Options outstanding | |||||||||||||||||||||||||||||||
Weighted average exercise price per share | |||||||||||||||||||||||||||||||
Number of shares | |||||||||||||||||||||||||||||||
Balance at December 31, 2014 | 1,264,000 | $ | 0.26 | ||||||||||||||||||||||||||||
Options granted | 20,000 | 0.2 | |||||||||||||||||||||||||||||
Options exercised | -- | -- | |||||||||||||||||||||||||||||
Options expired or forfeited | (1,000 | ) | 0.24 | ||||||||||||||||||||||||||||
Balance at March 31, 2015 | 1,283,000 | $ | 0.26 | ||||||||||||||||||||||||||||
Options outstanding | |||||||||||||||||||||||||||||||
Weighted average exercise price per share | |||||||||||||||||||||||||||||||
Number of shares | |||||||||||||||||||||||||||||||
Balance at December 31, 2013 | 1,187,000 | $ | 0.26 | ||||||||||||||||||||||||||||
Options granted | -- | -- | |||||||||||||||||||||||||||||
Options exercised | -- | -- | |||||||||||||||||||||||||||||
Options expired or forfeited | -- | -- | |||||||||||||||||||||||||||||
Balance at March 31, 2014 | 1,187,000 | $ | 0.26 | ||||||||||||||||||||||||||||
The following table summarizes information about options at March 31, 2015: | |||||||||||||||||||||||||||||||
Options outstanding | Options exercisable | ||||||||||||||||||||||||||||||
Total shares | Weighted average exercise price | Weighted average remaining contractual life in years | Aggregate intrinsic value | Total shares | Weighted average exercise price | Weighted average remaining contractual life in years | Aggregate intrinsic value | ||||||||||||||||||||||||
1,283,000 | $ | 0.26 | 5.36 | $ | 42,258 | 1,059,500 | $ | 0.28 | 4.56 | $ | 30,602 | ||||||||||||||||||||
Nonvested stock awards as of March 31, 2015 and changes during the three months ended March 31, 2015 were as follows: | |||||||||||||||||||||||||||||||
Nonvested | |||||||||||||||||||||||||||||||
Number of shares | Weighted average grant date fair value | ||||||||||||||||||||||||||||||
Balance at December 31, 2014 | 209,500 | $ | 0.07 | ||||||||||||||||||||||||||||
Granted | 20,000 | 0.11 | |||||||||||||||||||||||||||||
Vested | (5,000 | ) | 0.08 | ||||||||||||||||||||||||||||
Expired before vesting | (1,000 | ) | 0.1 | ||||||||||||||||||||||||||||
Balance at March 31, 2015 | 223,500 | $ | 0.08 | ||||||||||||||||||||||||||||
As of March 31, 2015 and 2014, unrecognized compensation cost associated with non-vested share-based employee and non-employee compensation totaled $6,801 and $11,469, respectively, which are expected to be recognized over weighted average periods of 6 months and 7 months, respectively. |
4_Loss_Per_Share
4. Loss Per Share | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Loss per common share: | |||||||||||||
4. Loss Per Share | Basic loss per share excludes dilution and is computed by dividing loss available to common shareholders by the weighted-average number of shares outstanding for the period. Diluted loss 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 loss per common share: | |||||||||||||
Net Income | Shares | Per Share Amount | |||||||||||
Basic net loss per common share for the three months ended March 31, 2015: | |||||||||||||
Loss available to common stockholders | $ | (84,831 | ) | 11,201,760 | $ | (0.01 | ) | ||||||
Effect of dilutive stock options | - | - | - | ||||||||||
Diluted net loss per common share for the three months ended March 31, 2015 | $ | (84,831 | ) | 11,201,760 | $ | (0.01 | ) | ||||||
Basic net loss per common share for the three months ended March 31, 2014: | |||||||||||||
Loss available to common stockholders | $ | (97,519 | ) | 11,201,760 | $ | (0.01 | ) | ||||||
Effect of dilutive stock options | - | - | - | ||||||||||
Diluted net loss per common share for the three months ended March 31, 2014 | $ | (97,519 | ) | 11,201,760 | $ | (0.01 | ) |
1_Basis_of_Presentation_Polici
1. Basis of Presentation (Policies) | 3 Months Ended |
Mar. 31, 2015 | |
Notes to Financial Statements | |
Organization and Business | Information Analysis Incorporated (“IAI”, or the “Company”) was incorporated under the corporate laws of the Commonwealth of Virginia in 1979 to develop and market computer applications software systems, programming services, and related software products and automation systems. The Company provides services to customers throughout the United States, with a concentration in the Washington, D.C. metropolitan area. |
Unaudited Interim Financial Statements | The accompanying unaudited financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions for Form 10-Q and Article 8-03 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission. In the opinion of management, the unaudited financial statements include all adjustments necessary (which are of a normal and recurring nature) for the fair and not misleading presentation of the results of the interim periods presented. These unaudited financial statements should be read in conjunction with our audited financial statements for the year ended December 31, 2014 included in the Annual Report on Form 10-K filed by the Company with the Securities and Exchange Commission on March 20, 2015 (the “Annual Report”). The accompanying December 31, 2014 financial information was derived from our audited financial statements included in the Annual Report. The results of operations for any interim period are not necessarily indicative of the results of operations for any other interim period or for a full fiscal year. |
There have been no changes in the Company’s significant accounting policies as of March 31, 2015 as compared to the significant accounting policies disclosed in Note 1, "Summary of Significant Accounting Policies" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31. 2014 that was filed with the SEC on March 20, 2015. | |
Use of Estimates and Assumptions | The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results can, and in many cases will, differ from those estimates. |
Income Taxes | As of March 31, 2015, there have been no material changes to the Company’s uncertain tax position disclosures as provided in Note 7 of the Annual Report. The Company does not anticipate that total unrecognized tax benefits will significantly change prior to March 31, 2015. |
3_Stock_Based_Compensation_Tab
3. Stock Based Compensation (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||||
Notes to Financial Statements | |||||||||||||||||||||||||||||||
Black-Scholes option pricing model assumptions | 2015 | ||||||||||||||||||||||||||||||
Risk free interest rate | 1.61 – 1.97 | % | |||||||||||||||||||||||||||||
Dividend yield | 0 | % | |||||||||||||||||||||||||||||
Expected term | 5-10 years | ||||||||||||||||||||||||||||||
Expected volatility | 41.2 – 54.2 | % | |||||||||||||||||||||||||||||
Options outstanding | Options outstanding | ||||||||||||||||||||||||||||||
Weighted average exercise price per share | |||||||||||||||||||||||||||||||
Number of shares | |||||||||||||||||||||||||||||||
Balance at December 31, 2014 | 1,264,000 | $ | 0.26 | ||||||||||||||||||||||||||||
Options granted | 20,000 | 0.2 | |||||||||||||||||||||||||||||
Options exercised | -- | -- | |||||||||||||||||||||||||||||
Options expired or forfeited | (1,000 | ) | 0.24 | ||||||||||||||||||||||||||||
Balance at March 31, 2015 | 1,283,000 | $ | 0.26 | ||||||||||||||||||||||||||||
Options outstanding | |||||||||||||||||||||||||||||||
Weighted average exercise price per share | |||||||||||||||||||||||||||||||
Number of shares | |||||||||||||||||||||||||||||||
Balance at December 31, 2013 | 1,187,000 | $ | 0.26 | ||||||||||||||||||||||||||||
Options granted | -- | -- | |||||||||||||||||||||||||||||
Options exercised | -- | -- | |||||||||||||||||||||||||||||
Options expired or forfeited | -- | -- | |||||||||||||||||||||||||||||
Balance at March 31, 2014 | 1,187,000 | $ | 0.26 | ||||||||||||||||||||||||||||
Options Summary | Options outstanding | Options exercisable | |||||||||||||||||||||||||||||
Total shares | Weighted average exercise price | Weighted average remaining contractual life in years | Aggregate intrinsic value | Total shares | Weighted average exercise price | Weighted average remaining contractual life in years | Aggregate intrinsic value | ||||||||||||||||||||||||
1,283,000 | $ | 0.26 | 5.36 | $ | 42,258 | 1,059,500 | $ | 0.28 | 4.56 | $ | 30,602 | ||||||||||||||||||||
Nonvested Stock awards | Nonvested | ||||||||||||||||||||||||||||||
Number of shares | Weighted average grant date fair value | ||||||||||||||||||||||||||||||
Balance at December 31, 2014 | 209,500 | $ | 0.07 | ||||||||||||||||||||||||||||
Granted | 20,000 | 0.11 | |||||||||||||||||||||||||||||
Vested | (5,000 | ) | 0.08 | ||||||||||||||||||||||||||||
Expired before vesting | (1,000 | ) | 0.1 | ||||||||||||||||||||||||||||
Balance at March 31, 2015 | 223,500 | $ | 0.08 |
4_Earnings_Per_Share_Tables
4. Earnings Per Share (Tables) | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Notes to Financial Statements | |||||||||||||
Reconciliation of Loss per Share | Net Income | Shares | Per Share Amount | ||||||||||
Basic net loss per common share for the three months ended March 31, 2015: | |||||||||||||
Loss available to common stockholders | $ | (84,831 | ) | 11,201,760 | $ | (0.01 | ) | ||||||
Effect of dilutive stock options | - | - | - | ||||||||||
Diluted net loss per common share for the three months ended March 31, 2015 | $ | (84,831 | ) | 11,201,760 | $ | (0.01 | ) | ||||||
Basic net loss per common share for the three months ended March 31, 2014: | |||||||||||||
Loss available to common stockholders | $ | (97,519 | ) | 11,201,760 | $ | (0.01 | ) | ||||||
Effect of dilutive stock options | - | - | - | ||||||||||
Diluted net loss per common share for the three months ended March 31, 2014 | $ | (97,519 | ) | 11,201,760 | $ | (0.01 | ) |
3_StockBased_Compensation_Deta
3. Stock-Based Compensation (Details) | 3 Months Ended |
Mar. 31, 2015 | |
Stock-based Compensation Details | |
Risk free interest rate, minimum | 1.61% |
Risk free interest rate, maximum | 1.97% |
Dividend yield | 0.00% |
Expected term, minimum | 5 years |
Expected term, maximum | 10 years |
Expected volatility, minimum | 41.20% |
Expected volatility, maximum | 54.20% |
3_StockBased_Compensation_Deta1
3. Stock-Based Compensation (Details 1) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Weighted average price per share, ending balance | $0.26 | |
Options | ||
Beginning Balance | 1,264,000 | 1,187,000 |
Options granted | 20,000 | |
Options exercised, expired or forfeited | -1,000 | |
Ending Balance | 1,283,000 | 1,187,000 |
Weighted average price per share, beginning balance | $0.26 | $0.26 |
Weighted average price per share, Options granted | $0.20 | |
Weighted average exercise price per share, Options expired or forfeited | $0.24 | |
Weighted average price per share, ending balance | $0.26 | $0.26 |
3_StockBased_Compensation_Deta2
3. Stock-Based Compensation (Details 2) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Stock-based Compensation Details 2 | |
Options outstanding | 1,283,000 |
Weighted Average Price per share | $0.26 |
Weighted average remaing contractual life in years | 5 years 4 months 10 days |
Aggregate intrinsic value | $42,258 |
Options exercisable | 1,059,500 |
Options exercisable weighted average exercise price | $0.28 |
Options exercisable weighted average remaining contractual life | 4 years 6 months 22 days |
Options exercisable aggregate intrinsic value | $30,602 |
3_StockBased_Compensation_Deta3
3. Stock-Based Compensation (Details 3) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Stock-based Compensation Details 3 | |
Nonvested Stock Awards Beginning Balance | 209,500 |
Granted | 20,000 |
Vested | -5,000 |
Expired before Vesting | -1,000 |
Nonvested Stock Awards Ending Balance | 223,500 |
Weighted Average Grant Date Fair Value | |
Nonvested Stock Awards Beginning Balance | $0.07 |
Granted | $0.11 |
Vested | $0.08 |
Expired before Vesting | $0.10 |
Nonvested Stock Awards Ending Balance | $0.08 |
3_StockBased_Compensation_Deta4
3. Stock-Based Compensation (Details Narrative) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Stock-based Compensation Details Narrative | ||
Total compensation expense for stock options | $2,871 | $5,254 |
Options awarded to non-employees expense | $0 | $564 |
4_Loss_Per_Share_Details
4. Loss Per Share (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Loss Per Share Details | ||
Basic net loss | ($84,831) | ($97,519) |
Basic shares | 11,201,760 | 11,201,760 |
Basic net loss per common share | ($0.01) | ($0.01) |
Effect of dilutive stock options | 0 | 0 |
Diluted Net Loss | ($84,831) | ($97,519) |
Diluted shares | 11,201,760 | 11,201,760 |
Diluted earnings per share | ($0.01) | ($0.01) |