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Net Income (Loss) Per Share (Tables)

12 Months Ended

Jun. 30, 2012

Net Income (Loss) Per Share

Schedule of computation of basic and diluted 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.

Schedule of outstanding potentially dilutive securities

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

Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 40

-Subparagraph c

-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.

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Tabular disclosure of an entity's basic and diluted earnings per share calculations.

+ References

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