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Net Income (loss) Per Share
3 Months Ended
Sep. 30, 2011
Net Income (loss) Per Share 
Net Income (loss) Per Share

Note 8 — Net Income (loss) Per Share

 

The following table sets forth the computation of basic and diluted income (loss) per share:

 

 

 

Three Months Ended
September 30,

 

 

 

2011

 

2010

 

Numerator

 

 

 

 

 

Net income (loss) attributable to common shareholders

 

$

1,015,683

 

$

(485,334

)

 

 

 

 

 

 

Denominator*

 

 

 

 

 

Weighted average number of common shares — Basic

 

27,669,355

 

27,160,723

 

 

 

 

 

 

 

Effect of dilutive securities:

 

 

 

 

 

Common stock warrants issued in connection with equity and financing transactions

 

59,057

 

—

 

Stock Options and Incentive Warrants

 

3,550,938

 

—

 

Total weighted average dilutive securities

 

3,609,995

 

—

 

 

 

 

 

 

 

Weighted average number of common shares and dilutive potential common shares used in diluted EPS

 

31,279,350

 

27,160,723

 

 

 

 

 

 

 

Net income (loss) per common share — Basic

 

$

0.04

 

$

(0.02

)

Net income (loss) per common share — Diluted

 

$

0.03

 

$

(0.02

)

 

* Potential dilutive common shares are excluded from the computation of net loss per common shares because their effect will always be anti-dilutive.

 

Outstanding potentially dilutive securities as of September 30, 2011 are as follows:

 

Outstanding Potential Dilutive Securities

 

Weighted
Average
Exercise Price

 

Outstanding at
September 30,
2011

 

 

 

 

 

 

 

Common stock warrants issued in connection with equity and financing transactions

 

$

2.50

 

92,365

 

Stock Options and Incentive Warrants

 

$

1.83

 

5,372,820

 

Total

 

$

1.84

 

5,465,185

 

 

Outstanding potentially dilutive securities as of September 30, 2010 are as follows:

 

Outstanding Potential Dilutive Securities

 

Weighted
Average
Exercise Price

 

Outstanding at
September 30,
2010

 

 

 

 

 

 

 

Common stock warrants issued in connection with equity and financing transactions

 

$

1.87

 

159,308

 

Stock Options and Incentive Warrants

 

$

1.83

 

5,472,820

 

Total

 

$

1.83

 

5,632,128