| Basic and diluted net loss per share |
The following table presents the computation
of basic and diluted net loss per share:
| |
|
Three Months Ended June 30, |
|
|
Nine Months Ended June 30, |
|
| |
|
2014 |
|
|
2013 |
|
|
2014 |
|
|
2013 |
|
| |
|
(unaudited) |
|
|
(unaudited) |
|
|
(unaudited) |
|
|
(unaudited) |
|
| Loss from continuing operations |
|
$ |
(1,541,901 |
) |
|
$ |
(511,464 |
) |
|
$ |
(2,925,913 |
) |
|
$ |
(4,789,403 |
) |
| Less: preferred stock dividends |
|
|
(479 |
) |
|
|
(479 |
) |
|
|
(1,438 |
) |
|
|
(1,438 |
) |
| Loss from continuing operations applicable to common stock |
|
|
(1,542,380 |
) |
|
|
(511,943 |
) |
|
|
(2,927,351 |
) |
|
|
(4,790,841 |
) |
| Income (loss) from discontinued operations |
|
|
– |
|
|
|
295 |
|
|
|
– |
|
|
|
2,708 |
|
| Net loss applicable to common stock |
|
$ |
(1,542,380 |
) |
|
$ |
(511,648 |
) |
|
$ |
(2,927,351 |
) |
|
$ |
(4,788,133 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average common shares -
outstanding basic and diluted |
|
|
13,798,880 |
|
|
|
10,313,208 |
|
|
|
12,751,344 |
|
|
|
8,744,694 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Earnings per share - basic and diluted: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loss from continuing operations |
|
$ |
(0.11 |
) |
|
$ |
(0.05 |
) |
|
$ |
(0.23 |
) |
|
$ |
(0.55 |
) |
| Discontinued operations |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
| Net loss |
|
$ |
(0.11 |
) |
|
$ |
(0.05 |
) |
|
$ |
(0.23 |
) |
|
$ |
(0.55 |
) |
|
| Potentially dilutive securities |
The following potentially dilutive securities
were excluded from the calculation of diluted net loss per share because the effects were anti-dilutive based on the application
of the treasury stock method and because the Company incurred net losses during the period:
| |
|
Three Months Ended June 30, |
|
|
Nine Months Ended June 30, |
|
| |
|
2014 |
|
|
2013 |
|
|
2014 |
|
|
2013 |
|
| |
|
(unaudited) |
|
|
(unaudited) |
|
|
(unaudited) |
|
|
(unaudited) |
|
| Options to purchase shares of common stock |
|
|
675,000 |
|
|
|
675,000 |
|
|
|
675,000 |
|
|
|
675,000 |
|
| Warrants to purchase shares of common stock |
|
|
2,866,506 |
|
|
|
2,866,506 |
|
|
|
2,866,506 |
|
|
|
2,866,506 |
|
| Series E convertible preferred stock |
|
|
127,840 |
|
|
|
127,840 |
|
|
|
127,840 |
|
|
|
127,840 |
|
| Shares of vested restricted stock |
|
|
21,000 |
|
|
|
789 |
|
|
|
21,000 |
|
|
|
789 |
|
| Total potentially dilutive shares |
|
|
3,690,346 |
|
|
|
3,670,135 |
|
|
|
3,690,346 |
|
|
|
3,670,135 |
|
|