XML 26 R8.htm IDEA: XBRL DOCUMENT v2.4.1.9
INCOME (LOSS) PER SHARE
 6 Months Ended
Mar. 31, 2015
INCOME (LOSS) PER SHARE [Abstract]  
INCOME (LOSS) PER SHARE
3. INCOME (LOSS) PER SHARE

 

We compute basic income (loss) per share using the weighted average number of common shares outstanding.

 

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 and 592 common shares issuable upon conversion of preferred shares were not considered in computing diluted earnings per share for the three months ended March 31, 2015 because they were anti-dilutive. Shares issuable upon exercise of options, warrants for 810 common shares and 595 common shares issuable upon conversion of preferred shares also were not considered in computing diluted earnings per share for the three and six months ended March 31, 2014, respectively, because they were also anti-dilutive.

 

The following table reconciles our computation of basic net income (loss) per share to diluted net loss per share:

 

Three Months Ended
March 31,		 Six Months Ended
March 31,		  
2015 2014     2015     2014  
             
Basic net income (loss) per share:                      
                                 
Net income (loss) applicable to common shareholders   $ 150     $ (219 )   $ 332     $ (881 )
Weighted average common shares outstanding     8,076       7,964       8,076       7,848  
                                 
Basic net income (loss) per share   $ 0.02     $ (0.03 )   $ 0.04     $ (0.11 )
                                 
Diluted net loss per share:                                
                                 
Net Income (loss) applicable to common shareholders   $ 150     $ (219 )   $ 332     $ (881 )
Change in Fair Value of Warrant Liability     (199 )     -       (319 )     -  
                                 
Diluted net income (loss) applicable to common shareholders   $ (49 )   $ (219 )   $ 13     $ (881 )
                                 
Weighted average common shares outstanding     8,076       7,964       8,076       7,848  
Plus: Incremental shares from assumed conversions:                                
Series A preferred shares     -       -       592       -  
Class A warrants     29       -       64       -  
Stock options/shares     -       -       131       -  
                                 
Diluted weighted average common shares outstanding     8,105       7,964       8,863       7,848  
                                 
Diluted net loss per share:   $ (0.01 )   $ (0.03 )   $ 0.00     $ (0.11 )