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LOSS PER SHARE | 12 Months Ended
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Sep. 30, 2012
LOSS PER SHARE [Abstract] |
LOSS PER SHARE | 5. LOSS PER SHARE We compute basic loss per share using the weighted average number of common shares outstanding. The net loss applicable to common shareholders for fiscal 2011 is the net of the net income for the year less the deemed dividend for the Series A preferred shares from the May 2011 registered direct offering described in Note 4 and less the dividends earned on the outstanding Series A preferred shares. The Company has three categories of dilutive potential common shares: the Series A preferred shares issued in May 2011 in connection with the registered direct offering, the Warrants issued in connection with the same offering in May 2011, and shares issuable upon exercise of options. We compute diluted earnings per share using the if-converted method for preferred stock and the treasury stock method for stock options and warrants. Shares issuable upon exercise of options were not considered in computing diluted earnings per share for the fiscal years ended September 30, 2012 and 2011 because they were anti-dilutive. Warrants for 1,376,500 and 2,753,000 common shares and 936,000 and 2,753,000 common shares issuable upon conversion of preferred shares were not considered in computing diluted earnings per share for fiscal 2012 and 2011, respectively, because they were also anti-dilutive. The following table reconciles our computation of basic net loss per share to diluted net loss per share:
|  | Years Ended September 30, |
|  | 2012 |  |  | 2011 |
|  | (Restated) |  |  | (Restated) |
Basic net loss per share: |  |  |  |  |  |  |  |
Net income (loss) |  | $ | (6,317 | ) |  | $ | 2,302 |
Less: Deemed dividend for Series A Preferred Shares |  |  | - |  |  |  | (5,506 | )
Less: Preferred dividend |  |  | - |  |  |  | (991 | )
Net loss applicable to common shareholders |  | $ | (6,317 | ) |  | $ | (4,195 | )
Weighted average common shares outstanding |  |  | 7,158 |  |  |  | 5,667 |
Basic net loss per share |  | $ | (0.88 | ) |  | $ | (0.74 | )
Diluted net loss per share: |  |  |  |  |  |  |  |
Net loss applicable to common shareholders |  | $ | (6,317 | ) |  | $ | (4,195 | )
Weighted average common shares outstanding |  |  | 7,158 |  |  |  | 5,667 |
Diluted net loss per share |  | $ | (0.88 | ) |  | $ | (0.74 | )

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 40 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=16381557&loc=d3e4984-109258 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 + Details
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