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(Loss) Earnings Per Share

12 Months Ended

Sep. 30, 2016

(Loss) Earnings Per Share [Text Block]

18.

Earnings (Loss) Per Share

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

			2015			2016
	Net profit (loss) from continuing operations	$	14,042,689		$	(12,652,194	)
	Income from discontinued operations		1,831,237			-
	Net profit (loss)	$	15,873,926		$	(12,652,194	)

	Weighted average shares used in basic computation ^(note)		12,718,388			17,786,374
	Dilutive effect of unvested restricted shares		162,733			-
	Weighted average shares used in diluted computation		12,881,121			17,786,374

	Earnings (loss) per share – Basic
	From continuing operations	$	1.10		$	(0.71	)
	From discontinued operations		0.14			-
		$	1.24		$	(0.71	)

	Earnings (loss) per share –Diluted
	From continuing operations	$	1.09		$	(0.71	)
	From discontinued operations		0.14			-
		$	1.23		$	(0.71	)

Note:

Including (i) 82,502 and 55,000 vested restricted shares granted pursuant to the 2015 Plan that were not yet issued for the years ended September 30, 2015 and 2016, respectively; and (ii) 4,376,731 and nil shares to be issued to the investors as of September 30, 2015 and 2016, respectively, on conversion of loans pursuant to the Debt Conversion Agreement on September 29, 2015 (Note 1).

For the year ended September 30, 2015 and 2016, the outstanding 4,200 stock options were anti-dilutive and excluded from diluted earnings per share.

For the year ended September 30, 2016, 822,000 unvested restricted shares were anti-dilutive and excluded from shares used in the diluted computation.