Quarterly report pursuant to Section 13 or 15(d)

(Loss) Income per Share

v3.7.0.1
(Loss) Income per Share
9 Months Ended
Jun. 30, 2017
(Loss) Income per Share [Abstract]  
(Loss) Income per Share

NOTE 2 – (Loss) Income per Share 



Basic (loss) income per common share is computed by dividing net (loss) income by the weighted average number of common shares outstanding for the period. Diluted (loss) income per share is computed by dividing net income by the weighted average number of common shares outstanding during the period after giving effect to all dilutive potential common shares that were outstanding during the period. Dilutive potential common shares consist of the incremental common shares issuable upon the exercise of stock options, warrants, and unvested shares granted to employees and directors.   







 

 

 

 

 

 

 

 

 

 

 



Three Months Ended

 

Nine Months Ended



June 30,

 

June 30,



2017

 

2016

 

2017

 

2016

Weighted average common shares outstanding - basic

 

30,991,247 

 

 

28,655,970 

 

 

30,983,271 

 

 

28,647,275 

Net effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

Options

 

 —

 

 

1,624 

 

 

 —

 

 

14,748 

Unvested restricted shares

 

 —

 

 

396,553 

 

 

 —

 

 

396,553 

Total net effect of dilutive securities

 

 —

 

 

398,177 

 

 

 —

 

 

411,301 

Weighted average common shares outstanding - diluted

 

30,991,247 

 

 

29,054,147 

 

 

30,983,271 

 

 

29,058,576 

(Loss) income per common share – basic

$

(0.03)

 

$

0.02 

 

$

(0.13)

 

$

0.07 

(Loss) income per common share – diluted

$

(0.03)

 

$

0.02 

 

$

(0.13)

 

$

0.07 



Options to purchase 297,500 shares of common stock, warrants to purchase 2,585,379 shares of common stock, and 198,750 unvested restricted shares that were outstanding during the three and nine months ended June 30, 2017 were not included in the computation of diluted net loss per share because their effect was anti-dilutive.  Series 4 Preferred Stock is convertible into common stock; however, there were not sufficient common shares for conversion during the three and nine months ended June 30, 2017, and therefore the Series 4 Preferred Stock is not included in the calculation.  Options to purchase approximately 90,000 and 17,500 shares of common stock at exercise prices of $3.92 per share and $1.82 per share, respectively, that were both outstanding during the three and nine months ended June 30, 2016 were not included in the computation of diluted net income per share because their effect was anti-dilutive.  All other outstanding stock options and unvested restricted shares were included in the computation of diluted net income per share for the three and nine months ended June 30, 2016.