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8. EARNINGS PER SHARE
 9 Months Ended
Jun. 30, 2012
Notes to Financial Statements  
EARNINGS PER SHARE

The Company’s diluted earnings per share (EPS) are as follows for June 30, 2012 and 2011.  For the three andnine-month periods ended June 30, 2012 and 2011, the computation of dilutive net loss per share excluded options and warrants to purchase approximately 9,856,000and33,000,000 shares of common stock because their inclusion would have an anti-dilutive effect.

 

Nine months Ended June 30, 2012

 

          Weighted average        
    Net Loss     Shares     EPS  
                   
Basic and dilutive loss per share   $ (15,079,238 )     244,738,972     $ (0.06 )
                         

 

Three months Ended June 30, 2012

 

          Weighted average        
    Net Loss     Shares     EPS  
                   
Basic and dilutive per share   $ (835,446 )     258,467,582     $ (0.00 )
                         

  

Ninemonths Ended June 30, 2011

 

          Weighted average        
    Net Loss     Shares     EPS  
                   
Basic and dilutive loss per share   $ (24,463,180 )     206,860,979     $ (0.12 )
                         

 

Three months Ended June 30, 2011

 

          Weighted average        
    Net Loss     Shares     EPS  
                   
Basic earnings per Share   $ (3,114,255 )     208,402,408     $ (0.01 )
                         
Less conversion of derivative instruments     (1,763,311 )     -          
                         
Dilutive EPS   $ (4,877,566 )     208,402,408     $ (0.02 )