Quarterly report pursuant to Section 13 or 15(d)

LOSS PER SHARE

v3.7.0.1
LOSS PER SHARE
 6 Months Ended
Mar. 31, 2017
Earnings Per Share [Abstract]  
LOSS PER SHARE
5. 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-month and six-month periods ended March 31, 2017 and 2016, 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-month and six-month periods ended March 31, 2017 and 2016 is as follows:

 

    Three months ended
March 31,		  
    2017     2016  
Net Loss for computation of basic and diluted net loss per share:                
Net loss   $ (1,452,000 )   $ (142,700 )
Basic and Diluted net loss per share:                
Basic net loss per share   $ (0.61 )   $ (0.28 )
                 
Basic and Diluted weighted average shares outstanding     2,372,394       513,345  
                 
Anti-dilutive common equivalent shares not included in the computation of dilutive net loss per share:                
Convertible debt     -       416,358  
Warrants     7,032       404,694  
Options     334,428       71,150  

 

    Six months ended
March 31,		  
    2017     2016  
Net Loss for computation of basic and diluted net loss per share:                
Net loss   $ (2,892,200 )   $ (3,594,000 )
Basic and Diluted net loss per share:                
Basic net loss per share   $ (1.29 )   $ (7.01 )
                 
Basic and Diluted weighted average shares outstanding     2,236,728       512,716  
                 
Anti-dilutive common equivalent shares not included in the computation of dilutive net loss per share:                
Convertible debt     -       366,170  
Warrants     7,093       219,461  
Options     329,766       71,150