| Earnings Per Share [Text Block] |
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 and six months ended March 31, 2012 and 2011, 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 March 31, 2012 and 2011 are as follows:
| |
|
For the Three Months ended
March 31, |
|
| |
|
|
|
|
|
|
| |
|
2012 |
|
|
2011 |
|
| Net loss for computation of basic net loss per share |
|
$ |
(8,394,500 |
) |
|
$ |
(6,946,300 |
) |
| Net loss for computation of dilutive net income loss per share |
|
$ |
(8,394,500 |
) |
|
$ |
(6,946,300 |
) |
| |
|
|
|
|
|
|
|
|
| Basic net loss per share |
|
$ |
(4.48 |
) |
|
$ |
(3.72 |
) |
| |
|
|
|
|
|
|
|
|
| Diluted net income loss per share |
|
$ |
(4.48 |
) |
|
$ |
(3.72 |
) |
| |
|
|
|
|
|
|
|
|
| Basic weighted average shares outstanding |
|
|
1,873,948 |
|
|
|
1,867,464 |
|
| Dilutive common equivalent shares |
|
|
- |
|
|
|
- |
|
| Diluted weighted average common shares |
|
|
1,873,948 |
|
|
|
1,867,464 |
|
| |
|
|
|
|
|
|
|
|
| Anti-dilutive common equivalent shares not included in the computation of dilutive net loss per share: |
|
|
|
|
|
|
|
|
| Convertible debt |
|
|
2,051,886 |
|
|
|
402,759 |
|
| Warrants |
|
|
1,905,251 |
|
|
|
871,384 |
|
| Options |
|
|
527,958 |
|
|
|
511,743 |
|
A summary of the net loss and shares used to compute the loss per share for the six months ended March 31, 2012 and 2011 are as follows:
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|
For the Six Months ended
March 31, |
|
| |
|
|
|
|
|
|
| |
|
2012 |
|
|
2011 |
|
| Net loss for computation of basic net loss per share |
|
$ |
(11,125,700 |
) |
|
$ |
(7,043,900 |
) |
| Net loss for computation of dilutive net income loss per share |
|
$ |
(11,125,700 |
) |
|
$ |
(7,043,900 |
) |
| |
|
|
|
|
|
|
|
|
| Basic net loss per share |
|
$ |
(5.94 |
) |
|
$ |
(3.77 |
) |
| |
|
|
|
|
|
|
|
|
| Diluted net loss per share |
|
$ |
(5.94 |
) |
|
$ |
(3.77 |
) |
| |
|
|
|
|
|
|
|
|
| Basic weighted average shares outstanding |
|
|
1,873,766 |
|
|
|
1,867,690 |
|
| Dilutive common equivalent shares |
|
|
- |
|
|
|
- |
|
| Diluted weighted average common shares |
|
|
1,873,766 |
|
|
|
1,867,690 |
|
| |
|
|
|
|
|
|
|
|
| Anti-dilutive common equivalent shares not included in the computation of dilutive net loss per share: |
|
|
|
|
|
|
|
|
| Convertible debt |
|
|
1,909,742 |
|
|
|
347,499 |
|
| Warrants |
|
|
1,781,556 |
|
|
|
841,070 |
|
| Options |
|
|
525,894 |
|
|
|
515,065 |
|
|