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Net Income (Loss) Per Share | 12 Months Ended
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Jun. 30, 2012
Net Income (Loss) Per Share |
Net Income (Loss) Per Share |
Note 12 — Net Income (Loss) Per Share The following table sets forth the computation of basic and diluted net income (loss) per share:
|  | Year Ended |
|  | June 30, |
|  | 2012 |  | 2011 |  | 2010 |
Numerator |  |  |  |  |  |  |
Net income (loss) attributable to common shareholders |  | $ | 4,501,739 |  | $ | (241,553 | ) | $ | (2,387,707 | )
Denominator |  |  |  |  |  |  |
Weighted average number of common shares — Basic |  | 27,784,298 |  | 27,437,496 |  | 27,004,066 |
Effect of dilutive securities: |  |  |  |  |  |  |
Common stock warrants issued in connection with equity and financing transactions |  | 63,319 |  | — |  | — |
Stock Options and Incentive Warrants |  | 3,762,312 |  | — |  | — |
Total weighted average dilutive securities |  | 3,825,631 |  | — |  | — |
Weighted average number of common shares and dilutive potential common shares used in diluted EPS |  | 31,609,929 |  | 27,437,496 |  | 27,004,066 |
Net income (loss) per common share — Basic |  | $ | 0.16 |  | $ | (0.01 | ) | $ | (0.09 | )
Net income (loss) per common share — Diluted |  | $ | 0.14 |  | $ | (0.01 | ) | $ | (0.09 | )
* 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 June 30, 2012 are as follows:
Outstanding Potential Dilutive Securities |  | Weighted Average Exercise Price |  | Outstanding at June 30, 2012 |
Common stock warrants issued in connection with equity and financing transactions |  | $ | 2.50 |  | 1,165 |
Stock Options and Incentive Warrants |  | $ | 1.83 |  | 5,485,820 |
Total |  | $ | 1.83 |  | 5,486,985 |
Outstanding potentially dilutive securities as of June 30, 2011 are as follows:
Outstanding Potential Dilutive Securities |  | Weighted Average Exercise Price |  | Outstanding at June 30, 2011 |
Common stock warrants issued in connection with equity and financing transactions |  | $ | 2.50 |  | 92,365 |
Stock Options and Incentive Warrants |  | $ | 1.85 |  | 5,392,820 |
Total |  | $ | 1.86 |  | 5,485,185 |
Outstanding potentially dilutive securities as of June 30, 2010 are as follows:
Outstanding Potential Dilutive Securities |  | Weighted Average Exercise Price |  | Outstanding at June 30, 2010 |
Common stock warrants issued in connection with equity and financing transactions |  | $ | 1.87 |  | 159,308 |
Stock Options and Incentive Warrants |  | $ | 1.83 |  | 5,482,820 |
Total |  | $ | 1.83 |  | 5,642,128 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=16381557&loc=d3e4984-109258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 40 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 + Details
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