General form of registration statement for all companies including face-amount certificate companies

EARNINGS PER SHARE

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EARNINGS PER SHARE
 3 Months Ended 12 Months Ended
Dec. 31, 2011
Sep. 30, 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   $ (1.46 )   $ (0.05 )
                 
Diluted net income (loss) per share   $ (1.46 )   $ (0.05 )
                 
Basic weighted average shares outstanding     1,873,584       1,867,464  
Dilutive common equivalent shares     -       -  
Diluted weighted average common shares     1,873,584       1,867,464  
                 
Anti-dilutive common equivalent shares not included in the computation of dilutive net loss per share:                
Convertible debt     1,767,598       87,054  
Warrants     1,657,856       810,755  
Options     523,829       518,389
8. 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 years ended September 30, 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 years ended September 30, 2011 and 2010 is as follows:

 

    2011     2010  
Net loss for computation of basic net income (loss) per share   $ (8,866,600 )   $ (8,174,000 )
Net income (loss) for computation of dilutive net income (loss) per share   $ (8,866,600 )   $ (8,174,000 )
                 
Basic net income (loss) per share   $ (4.74 )   $ (4.69 )
                 
Diluted net income (loss) per share   $ (4.74 )   $ (4.69 )
                 
Basic weighted average shares outstanding     1,869,038       1,742,571  
Dilutive common equivalent shares     -       -  
Diluted weighted average common shares     1,869,038       1,742,571  
                 
Anti-dilutive common equivalent shares not included in the computation of dilutive net loss per share:                
Convertible debt     474,139       7,152  
Warrants     908,033       639,827  
Options     521,470       374,758