| LOSS PER SHARE |
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 and six months ended March 31, 2016 and 2015, 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, 2016
and 2015 is as follows:
| |
|
Three months ended
March 31,
|
|
| |
|
2016 |
|
|
2015 |
|
| Net Loss for computation
of basic and diluted net loss per share: |
|
|
|
|
|
|
|
|
| Net
loss |
|
$ |
(142,700 |
) |
|
$ |
(696,300 |
) |
| Basic and Diluted net
loss per share: |
|
|
|
|
|
|
|
|
| Basic net loss per
share |
|
$ |
(0.00 |
) |
|
$ |
(0.01 |
) |
| |
|
|
|
|
|
|
|
|
| Basic and Diluted weighted average shares outstanding |
|
|
102,669,022 |
|
|
|
101,667,409 |
|
| |
|
|
|
|
|
|
|
|
| The weighted average
of anti-dilutive common equivalent shares not included in the computation of dilutive net loss per share: |
|
|
|
|
|
|
|
|
| Convertible debt |
|
|
83,271,628 |
|
|
|
1,892,742 |
|
| Warrants |
|
|
80,938,825 |
|
|
|
781,833 |
|
| Options |
|
|
14,230,011 |
|
|
|
12,645,994 |
|
| |
|
Six months ended
March 31,
|
|
| |
|
2016 |
|
|
2015 |
|
| Net Loss for computation
of basic and diluted net loss per share: |
|
|
|
|
|
|
|
|
| Net
loss |
|
$ |
(3,594,000 |
) |
|
$ |
(1,570,900 |
) |
| Basic and Diluted net
loss per share: |
|
|
|
|
|
|
|
|
| Basic net loss per
share |
|
$ |
(0.04 |
) |
|
$ |
(0.02 |
) |
| |
|
|
|
|
|
|
|
|
| Basic and Diluted weighted average shares outstanding |
|
|
102,543,215 |
|
|
|
101,667,409 |
|
| |
|
|
|
|
|
|
|
|
| The weighted average
of anti-dilutive common equivalent shares not included in the computation of dilutive net loss per share: |
|
|
|
|
|
|
|
|
| Convertible debt |
|
|
73,234,048 |
|
|
|
1,771,371 |
|
| Warrants |
|
|
43,892,108 |
|
|
|
871,027 |
|
| Options |
|
|
14,230,011 |
|
|
|
12,531,746 |
|
|