Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v2.4.0.6
EARNINGS PER SHARE
 3 Months Ended
Dec. 31, 2011
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
7. EARNINGS PER SHARE

 

In accordance with ASC 260-10 (formerly SFAS 128, “Computation of Earnings Per Share”), basic net income (loss) per share is computed by dividing the net income (loss) to common stockholders for the period by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share is computed by dividing the net income (loss) for the period by the weighted average number of common and dilutive common equivalent shares outstanding during the period.  For the three months ended December 31, 2011 and 2010, the Company has excluded all common equivalent shares from the calculation of diluted net loss per share as such securities are anti-dilutive.

 

A summary of the net income (loss) and shares used to compute net income (loss) per share for the three months ended December 31, 2011 and 2010 are as follows:

 

    2011     2010  
Net loss for computation of basic net income (loss) per share   $ (2,731,300 )   $ (97,700 )
Net income (loss) for computation of dilutive net income (loss) per share   $ (2,731,300 )   $ (97,700 )
                 
Basic net income (loss) per share   $ (0.05 )   $ 0.00 )
                 
Diluted net income (loss) per share   $ (0.05 )   $ 0.00 )
                 
Basic weighted average shares outstanding     56,207,507       56,023,921  
Dilutive common equivalent shares     -       -  
Diluted weighted average common shares     56,207,507       56,023,921  
                 
Anti-dilutive common equivalent shares not included in the computation of dilutive net loss per share:                
Convertible debt     53,027,927       2,611,595  
Warrants     49,735,693       24,322,648  
Options     15,714,871       15,551,655