XML 45 R17.htm IDEA: XBRL DOCUMENT v3.6.0.2
11. Earnings (Loss) Per Share
 12 Months Ended
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