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Net Income Per Share
 3 Months Ended
Sep. 30, 2012
Net Income Per Share  
Net Income Per Share

Note 9 — Net Income Per Share

 

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

 

 

 

Three Months Ended September 30

 

 

 

2012

 

2011

 

Numerator

 

 

 

 

 

Net income available to common shareholders

 

$

990,951

 

$

1,015,683

 

 

 

 

 

 

 

Denominator

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of common shares — Basic

 

27,938,297

 

27,669,355

 

 

 

 

 

 

 

Effect of dilutive securities:

 

 

 

 

 

Common stock warrants issued in connection with equity and financing transactions

 

852

 

59,057

 

Stock Options and Incentive Warrants

 

3,824,339

 

3,550,938

 

Total weighted average dilutive securities

 

3,825,191

 

3,609,995

 

 

 

 

 

 

 

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

 

31,763,488

 

31,279,350

 

 

 

 

 

 

 

Net income per common share — Basic

 

$

0.04

 

$

0.04

 

Net income per common share — Diluted

 

$

0.03

 

$

0.03

 

 

Outstanding potentially dilutive securities as of September 30, 2012 were as follows:

 

Outstanding Potential Dilutive Securities

 

Weighted
Average
Exercise Price

 

Outstanding at
September 30,
2012

 

 

 

 

 

 

 

Common stock warrants issued in connection with equity and financing transactions

 

$

2.50

 

1,165

 

Stock Options and Incentive Warrants

 

$

1.82

 

5,342,820

 

Total

 

$

1.82

 

5,343,985

 

 

Outstanding potentially dilutive securities as of September 30, 2011 were 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