Annual report pursuant to Section 13 and 15(d)

LOSS PER SHARE

v3.6.0.2
LOSS PER SHARE
12 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
LOSS PER SHARE
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 fiscal years ended September 30, 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 fiscal years ended September 30, 2016 and 2015 is as follows:  

 

    2016     2015  
Net Loss for computation of basic and diluted net loss per share:                
Net loss   $ (5,940,900 )   $ (3,379,400 )
Basic and Diluted net loss per share:                
Basic net loss per share   $ (9.26 )   $ (6.64 )
                 
Basic and Diluted weighted average shares outstanding     641,844       509,066  
                 
Anti-dilutive common equivalent shares not included in the computation of dilutive net loss per share:                
Convertible debt     1,441,344       50,348  
Warrants     3,484       4,132  
Options     74,588       63,634