Annual report pursuant to Section 13 and 15(d)

LOSS PER SHARE

v2.4.1.9
LOSS PER SHARE
 12 Months Ended
Sep. 30, 2014
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
9.
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 fiscal years ended September 30, 2014 and 2013, 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 fiscal years ended September 30, 2014 and 2013 is as follows: 
 
 
2014
 
 
2013
 
Net Loss for computation of basic and diluted net loss per share:
 
 
 
 
 
 
 
 
From continuing operations
 
$
(2,660,100)
 
 
$
(10,888,000)
 
From discontinued operations
 
 
(2,700)
 
 
 
(19,400)
 
Net loss
 
$
(2,662,800)
 
 
$
(10,907,400)
 
Basic and Diluted net loss per share:
 
 
 
 
 
 
 
 
From continuing operations
 
$
(0.03)
 
 
$
(0.14)
 
From discontinued operations
 
 
(0.00)
 
 
 
(0.00)
 
Basic net loss per share
 
$
(0.03)
 
 
$
(0.14)
 
 
 
 
 
 
 
 
 
 
Basic and Diluted weighted average shares outstanding
 
 
99,326,519
 
 
 
75,800,179
 
 
 
 
 
 
 
 
 
 
Anti-dilutive common equivalent shares not included in the computation of dilutive net loss per share:
 
 
 
 
 
 
 
 
Convertible debt
 
 
137,500
 
 
 
22,468,186
 
Warrants
 
 
1,139,415
 
 
 
1,163,976
 
Options
 
 
11,930,872
 
 
 
8,009,536