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Net Income (Loss) Per Share
 12 Months Ended
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