v3.8.0.1

2. Net Loss per Common Share | 9 Months Ended
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Jun. 30, 2017
Notes |
2. Net Loss per Common Share | 2. Net Loss per Common Share Basic net loss per common share ("Basic EPS") is computed by dividing net loss available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted net loss per common share ("Diluted EPS") is computed by dividing net loss available to common stockholders by the sum of the weighted average number of common shares outstanding and the weighted-average dilutive potential common shares outstanding. The computation of Diluted EPS does not assume exercise or conversion of securities that would have an anti-dilutive effect. Potential common shares consist of shares issuable upon the exercise of common stock warrants and options, shares issuable from restricted stock grants, and shares issuable pursuant to convertible notes and convertible Series D and Series E preferred stock. The following table reflects the calculation of basic and diluted net loss per common share for the periods indicated:
| Three Months Ended June 30, |  | Nine Months Ended June 30,
|  | 2017 |  | 2016 |  | 2017 |  | 2016
Numerator: |  |  |  |  |  |  |  |
Net loss attributable to common stockholders | $ | (5,873,988) | $ | 3,304,133 | $ | (15,151,168) | $ | (14,924,907)
Effect of dilutive securities on net loss: |  |  |  |  |  |  |  |
Common stock warrants |  | - |  | (2,427,640) |  | - |  | -
Convertible debt |  | - |  | (1,860,373) |  | - |  | (1,790,407)
Total net loss for purpose of calculating diluted net loss per common share | $ | (5,873,988) | $ | (983,880) | $ | (15,151,168) | $ | (16,715,314)
Number of shares used in per common share calculations: |  |  |  |  |  |  |  |
Total shares for purposes of calculating basic net loss per common share |  | 237,100 |  | 217,595 |  | 233,767 |  | 182,979
Weighted-average effect of dilutive securities: |  |  |  |  |  |  |  |
Common stock warrants |  | - |  | 3,337 |  | - |  | -
Convertible debt |  | - |  | 39,334 |  | - |  | 18,949
Total shares for purpose of calculating diluted net loss per common share |  | 237,100 |  | 260,266 |  | 233,767 |  | 201,928
Net loss per common share: |  |  |  |  |  |  |  |
Basic | $ | (24.77) | $ | 15.18 | $ | (64.81) | $ | (81.57)
Diluted | $ | (24.77) | $ | (3.78) | $ | (64.81) | $ | (82.78)
The effect of dilutive securities on the numerator for purposes of calculating diluted loss per common share is related to the convertible debt and related warrants due to the reduction of the gain on derivatives liability for warrants that were in the money. As of June 30, 2017 and 2016, there were certain outstanding potential common shares that were not included in the computation of Diluted EPS as their effect would be anti-dilutive for the three and nine months then ended. The potential common shares outstanding consist of the following:
| Three Months Ended June 30, |  | Nine Months Ended June 30,
|  | 2017 |  | 2016 |  | 2017 |  | 2016
Common stock warrants |  | 109,174 |  | 18,346 |  | 109,174 |  | 42,378
Series D convertible preferred stock |  | 450 |  | 450 |  | 450 |  | 450
Series E convertible preferred stock |  | 961 |  | 961 |  | 961 |  | 961
Convertible debt |  | 158,798 |  | 95,799 |  | 158,798 |  | 95,799
Restricted shares of common stock |  | 15 |  | 15 |  | 15 |  | 15
Liability to issue common stock and warrants |  | 358,097 |  | 2,246 |  | 358,097 |  | 2,246
Total common stock equivalents |  | 627,495 |  | 117,817 |  | 627,495 |  | 141,849

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