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11. Earnings (Loss) Per Share | 12 Months Ended
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Sep. 30, 2016
Earnings Per Share [Abstract] |
Earnings (Loss) Per Share | Net earnings (loss) per share is calculated using the weighted average number of shares of common stock outstanding during the applicable period. Basic weighted average common shares outstanding do not include shares of restricted stock that have not yet vested, although such shares are included as outstanding shares in the Company’s Consolidated Balance Sheet. Diluted net earnings (loss) per share is computed using the weighted average number of common shares outstanding and if dilutive, potential common shares outstanding during the period. Potential common shares consist of the additional common shares issuable in respect of restricted share awards, stock options and convertible preferred stock. Preferred stock dividends are subtracted from net earnings (loss) to determine the amount available to common stockholders. The following table presents the computation of basic and diluted net earnings (loss) per share:
|  | Year Ending September 30, |
|  | 2016 |  |  | 2015 |
Basic |  |  |  |  |  |
Net income (loss) attributed to Live Ventures Incorporated |  | $ | 17,829,857 |  |  | $ | (14,666,129 | )
Less: preferred stock dividends |  |  | (1,917 | ) |  |  | (1,921 | )
Net income (loss) applicable to common stock |  | $ | 17,827,940 |  |  | $ | (14,668,050 | )
Weighted average common shares outstanding |  |  | 2,815,072 |  |  |  | 2,627,636 |
Basic earnings (loss) per share |  | $ | 6.33 |  |  | $ | (5.58 | )
Diluted |  |  |  |  |  |  |  |
Net income (loss) applicable to common stock |  | $ | 17,827,940 |  |  | $ | (14,668,050 | )
Add: preferred stock dividends |  |  | 1,917 |  |  |  | 1,921 |
Net income (loss) applicable for diluted earnings (loss) per share |  | $ | 17,829,857 |  |  | $ | (14,666,129 | )
Weighted average common shares outstanding |  |  | 2,815,072 |  |  |  | 2,627,636 |
Add: Options |  |  | 21,166 |  |  |  | – |
Add: Warrants |  |  | 339,620 |  |  |  | – |
Add: preferred stock |  |  | 127,840 |  |  |  | – |
Assumed weighted average common shares outstanding |  |  | 3,303,698 |  |  |  | 2,627,636 |
Diluted earnings (loss) per share |  | $ | 5.40 |  |  | $ | (5.58 | )
The following potentially dilutive securities were excluded from the calculation of diluted net loss per share for year ended September 30, 2015 because the effects were anti-dilutive based on the application of the treasury stock method and because the Company incurred net losses during the period:
Options to purchase shares of common stock |  |  | 175,000 |
Warrants to purchase shares of common stock |  |  | 590,146 |
Series E convertible preferred stock |  |  | 127,840 |
Total potentially dilutive shares |  |  | 892,986 |

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