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Net Income (loss) Per Share
 9 Months Ended
Mar. 31, 2012
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
March 31,

 

Nine Months Ended
March 31,

 

 

 

2012

 

2011

 

2012

 

2011

 

Numerator

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to common shareholders

 

$

1,299,525

 

$

170,426

 

$

3,575,158

 

$

(776,443

)

 

 

 

 

 

 

 

 

 

 

Denominator*

 

 

 

 

 

 

 

 

 

Weighted average number of common shares — Basic

 

27,816,963

 

27,521,957

 

27,759,487

 

27,379,023

 

 

 

 

 

 

 

 

 

 

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

Common stock warrants issued in connection with equity and financing transactions

 

66,826

 

110,940

 

62,684

 

—

 

Stock Options and Incentive Warrants

 

3,901,395

 

3,200,608

 

3,735,981

 

—

 

Total weighted average dilutive securities

 

3,968,221

 

3,311,548

 

3,798,665

 

—

 

 

 

 

 

 

 

 

 

 

 

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

 

31,785,184

 

30,833,505

 

31,558,152

 

27,379,023

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per common share — Basic

 

$

0.05

 

$

0.01

 

$

0.13

 

$

(0.03

)

Net income (loss) per common share — Diluted

 

$

0.04

 

$

0.01

 

$

0.11

 

$

(0.03

)

 

 

* 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, before adjustment for net exercise, as of March 31, 2012 are as follows:

 

Outstanding Potential Dilutive Securities

 

Weighted
Average
Exercise Price

 

Outstanding at
March 31,
2012

 

 

 

 

 

 

 

Common stock warrants issued in connection with equity and financing transactions

 

$

2.50

 

92,635

 

Stock Options and Incentive Warrants

 

$

1.83

 

5,372,820

 

Total

 

$

1.84

 

5,465,455

 

 

Outstanding potentially dilutive securities as of March 31, 2011 are as follows:

 

Outstanding Potential Dilutive Securities

 

Weighted
Average
Exercise Price

 

Outstanding at
March 31,
2011

 

 

 

 

 

 

 

Common stock warrants issued in connection with equity and financing transactions

 

$

1.87

 

159,308

 

Stock Options and Incentive Warrants

 

$

1.85

 

5,392,820

 

Total

 

$

1.85

 

5,552,128