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I. EARNINGS (LOSS) PER COMMON SHARE
 3 Months Ended
Dec. 31, 2017
Accounting Policies [Abstract]  
I. LOSS PER COMMON SHARE

The following table provides the details of the basic and diluted earnings (loss) per-share computations:

 

    Three Months Ended December 31, 2017  
    Net loss     Weighted Average Shares     LPS  
                   
Basic and diluted loss per share   $ (6,187,830)       11,636,730     $ (0.53 )

 

    Three Months Ended December 31, 2016  
    Net Income     Weighted Average Shares     EPS  
                   
Basic earnings per share   $ 3,521,153       5,994,431     $ 0.59  
Gain on derivatives (1)     (1,556,754 )     90,277          
                         
Dilutive earnings per share   $ 1,964,399       6,084,708     $ 0.32  
 (1) Includes certain Series CC, DD, EE and FF warrants                      

 

The gain on derivatives priced lower than the average market price during the period is excluded from the numerator and the related shares are excluded from the denominator in calculating diluted loss per share.

 

In accordance with the contingently issuable shares guidance of FASB ASC Topic 260, Earnings Per Share, the calculation of diluted net earnings (loss) per share excludes the following securities because their inclusion would have been anti-dilutive as of December 31:

 

    2017     2016  
             
Options and Warrants     10,491,090       6,946,179  
Unvested Restricted Stock     332,000       604,000  
Convertible debt     1,133,355       -  
Total     11,956,945       7,550,179