Annual report pursuant to Section 13 and 15(d)

LOSS PER SHARE

v2.4.0.6
LOSS PER SHARE
 12 Months Ended
Sep. 30, 2012
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
8. 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 years ended September 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 (loss) and shares used to compute net income (loss) per share for the years ended September 30, 2012 and 2011 is as follows:

 

    2012     2011  
Net Loss for computation of basic net loss per share:                
From continuing operations   $ (2,916,300 )   $ (8,328,400 )
From discontinued operations   $ (490,500 )   $ (538,200 )
Net loss   $ (3,406,800 )   $ (8,866,600 )
Basic net loss per share:                
From continuing operations   $ (1.55 )   $ (4.45 )
From discontinued operations   $ (0.26 )   $ (0.29 )
Basic net loss per share   $ (1.81 )   $ (4.74 )
Net Loss for computation of dilutive net loss per share:                
From continuing operations   $ (2,916,300 )   $ (8,328,400 )
From discontinued operations   $ (490,500 )   $ (538,200 )
Net loss   $ (3,406,800 )   $ (8,866,600 )
Diluted net loss per share:                
From continuing operations   $ (1.55 )   $ (4.45 )
From discontinued operations   $ (0.26 )   $ (0.29 )
Basic net loss per share   $ (1.81 )   $ (4.74 )
                 
Basic weighted average shares outstanding     1,887,508       1,869,038  
Dilutive common equivalent shares     -       -  
Diluted weighted average common shares     1,887,508       1,869,038  
                 
Anti-dilutive common equivalent shares not included in the computation of dilutive net loss per share:                
Convertible debt     2,289,131       474,139  
Warrants     1,972,998       908,033  
Options     548,123       521,470