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(Loss) Earnings Per Share

9 Months Ended

Jun. 30, 2015

(Loss) Earnings Per Share [Text Block]

15.

(Loss) Earnings Per Share

The following is the calculation of (loss) earnings per share:

			Three months ended June 30,						Nine months ended June 30,
			2014			2015			2014			2015
	Net (loss) profit from continuing operations	$	(9,829,430	)	$	(1,269,001	)	$	(26,368,149	)	$	15,665,368
	Income from discontinued operations		46,936,251			315,061			48,928,143			1,836,580
	Net (loss) profit	$	37,106,821		$	(953,940	)	$	22,559,994		$	17,501,948


	Weighted average shares used in basic computation ^(note)		12,714,597			12,720,229			12,709,524			12,719,808
	Diluted effect of unvested restricted shares		-			-			-			2,317
	Weighted average shares used in diluted computation		12,714,597			12,720,229			12,709,524			12,722,125

	(Loss) earnings per share – Basic
	From continuing operations	$	(0.77	)	$	(0.10	)	$	(2.07	)	$	1.23
	From discontinued operations		3.69			0.02			3.85			0.14
		$	2.92		$	(0.08	)	$	1.78		$	1.37

	(Loss) earnings per share –Diluted
	From continuing operations	$	(0.77	)	$	(0.10	)	$	(2.07	)	$	1.23
	From discontinued operations		3.69			0.02			3.85			0.14
		$	2.92		$	(0.08	)	$	1.78		$	1.37

Note: Including 95,000 and 100,000 vested restricted shares not yet issued to Mr. Xiangqian Li as of June 30, 2014 and 2015, respectively, and nil and 57,500 vested restricted shares granted pursuant to the 2015 Plan not yet issued as of June 30, 2014 and 2015, respectively.

For the three months ended June 30, 2015, 632,500 unvested restricted shares were anti-dilutive and excluded from diluted loss per share.

For the three and nine months ended June 30, 2015, the outstanding 4,200 stock options were anti-dilutive and excluded from diluted (loss) earnings per share.

For the three and nine months ended June 30, 2014, the outstanding 4,200 stock options and 5,000 unvested restricted shares were anti-dilutive and excluded from diluted (loss) earnings per share.