Quarterly report pursuant to Section 13 or 15(d)

EARNINGS (LOSS) PER SHARE

v2.4.0.8
EARNINGS (LOSS) PER SHARE
 3 Months Ended
Dec. 31, 2013
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
7.          EARNINGS (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 ended December 31, 2013 and 2012, 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, 2013 and 2012 is as follows:
 
 
 
Three months ended
December 31,
 
 
 
2013
 
2012
 
Net income (loss) for computation of basic net loss per share:
 
 
 
 
 
 
 
From continuing operations
 
$
138,700
 
$
(961,100)
 
From discontinued operations
 
$
(3,600)
 
$
(12,200)
 
Net income (loss)
 
$
135,100
 
$
(973,300)
 
Basic net income (loss) per share:
 
 
 
 
 
 
 
From continuing operations
 
$
0.00
 
$
(0.47)
 
From discontinued operations
 
$
(0.00)
 
$
(0.01)
 
Basic net income (loss) per share
 
$
0.00
 
$
(0.48)
 
Net income (loss) for computation of dilutive net loss per share:
 
 
 
 
 
 
 
From continuing operations
 
$
138,700
 
$
(961,100)
 
From discontinued operations
 
$
(3,600)
 
$
(12,200)
 
Net income (loss)
 
$
135,100
 
$
(973,300)
 
Diluted net income (loss) per share:
 
 
 
 
 
 
 
From continuing operations
 
$
0.00
 
$
(0.47)
 
From discontinued operations
 
$
(0.00)
 
$
(0.01)
 
Basic net income (loss) per share
 
$
0.00
 
$
(0.48)
 
 
 
 
 
 
 
 
 
Basic weighted average shares outstanding
 
 
95,047,482
 
 
2,024,619
 
Dilutive common equivalent shares
 
 
12,800,483
 
 
-
 
Diluted weighted average common shares
 
 
107,847,965
 
 
2,024,619
 
 
 
 
 
 
 
 
 
Anti-dilutive common equivalent shares not included in the computation of dilutive net loss per share:
 
 
 
 
 
 
 
Convertible debt
 
 
-
 
 
36,968,562
 
Warrants
 
 
-
 
 
1,086,210
 
Options
 
 
-
 
 
4,142,695