Quarterly report pursuant to Section 13 or 15(d)

LOSS PER SHARE

v2.4.0.6
LOSS PER SHARE
 9 Months Ended
Jun. 30, 2012
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]

7.           LOSS 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 and nine months ended June 30, 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 and shares used to compute net income (loss) per share for the three months ended June 30, 2012 and 2011 are as follows:

 

    For the Three Months ended
June 30,		  
    2012     2011  
Net income for computation of basic net profit per share   $ 3,615,200     $ 873,400  
Net income for computation of dilutive net income profit per share   $ 3,615,200     $ 873,400  
                 
Basic net loss per share   $ 1.93     $ 0.47  
                 
Diluted net income loss per share   $ 0.51     $ 0.22  
                 
Basic weighted average shares outstanding     1,874,175       1,870,813  
Dilutive common equivalent shares     5,226,232       2,078,607  
Diluted weighted average common shares     7,100,407       3,949,420  
                 
Anti-dilutive common equivalent shares not included in the computation of dilutive net loss per share:                
Convertible debt     -       -  
Warrants     -       -  
Options     -       -  

 

A summary of the net loss and shares used to compute the loss per share for the nine months ended June 30, 2012 and 2011 are as follows:

 

    For the Nine months ended
June 30,		  
    2012     2011  
Net loss for computation of basic net loss per share   $ (7,510,300 )   $ (6,170,400 )
Net loss for computation of dilutive net income loss per share   $ (7,510,300 )   $ (6,170,400 )
                 
Basic net loss per share   $ (4.01 )   $ (3.30 )
                 
Diluted net loss per share   $ (4.01 )   $ (3.30 )
                 
Basic weighted average shares outstanding     1,873,902       1,868,731  
Dilutive common equivalent shares     -       -  
Diluted weighted average common shares     1,873,902       1,868,731  
                 
Anti-dilutive common equivalent shares not included in the computation of dilutive net loss per share:                
Convertible debt     2,206,186       427,594  
Warrants     1,909,184       882,228  
Options     525,206       518,101