| 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 nine months ended June 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 three and nine months ended
June 30, 2016 and 2015 are as follows:
| |
|
Three months ended
June
30, |
|
| |
|
2016 |
|
|
2015 |
|
| Net Loss for computation of basic and diluted
net loss per share: |
|
|
|
|
|
|
| Net
loss |
|
$ |
(1,354,400 |
) |
|
$ |
(536,800 |
) |
| Basic and Diluted net
loss per share: |
|
|
|
|
|
|
|
|
| Basic net loss per
share |
|
$ |
(0.01 |
) |
|
$ |
(0.01 |
) |
| |
|
|
|
|
|
|
|
|
| Basic and Diluted weighted average shares outstanding |
|
|
107,160,957 |
|
|
|
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 |
|
|
98,723,522 |
|
|
|
- |
|
| Warrants |
|
|
98,146,529 |
|
|
|
1,100,794 |
|
| Options |
|
|
15,788,344 |
|
|
|
11,992,499 |
|
| |
|
Nine
months ended
June 30, |
|
| |
|
2016 |
|
|
2015 |
|
| Net Loss for computation of basic and diluted
net loss per share: |
|
|
|
|
|
|
| Net
loss |
|
$ |
(4,948,400 |
) |
|
$ |
(2,107,600 |
) |
| Basic and Diluted net
loss per share: |
|
|
|
|
|
|
|
|
| Basic net loss per
share |
|
$ |
(0.05 |
) |
|
$ |
(0.02 |
) |
| |
|
|
|
|
|
|
|
|
| Basic and Diluted weighted average shares outstanding |
|
|
104,082,463 |
|
|
|
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 |
|
|
81,730,539 |
|
|
|
1,854,618 |
|
| Warrants |
|
|
61,953,674 |
|
|
|
841,192 |
|
| Options |
|
|
14,749,455 |
|
|
|
12,563,059 |
|
|