v2.4.0.6
NET INCOME (LOSS) PER SHARE
 3 Months Ended
Sep. 30, 2012
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]

9.  NET INCOME (LOSS) PER SHARE

 

Basic earnings (loss) per common share (EPS) is determined by dividing the net income (loss) attributable to the common stockholders by the weighted average number of shares of common stock outstanding during the period.  Fully diluted earnings per common share is computed similar to basic EPS except that the denominator is increased to include the number of additional common shares that would have been outstanding if potential common shares had been issued and if the additional common shares were dilutive. The dilutive effect of our share-based awards is computed using the treasury stock method, which assumes that all share-based awards are exercised and the hypothetical proceeds from exercise are used to purchase common stock at the average market price during the period. 

 

The following represents a reconciliation of the numerators and denominators of the basic and diluted earnings per share computation for the three months ended September 30, 2012:     

 

Three months ended September 30, 2012

 

 

Net income attributable to

common shareholders

(Numerator)

 

 

 

Shares

(Denominator)

 

 

 

Per share

Amount

 

Basic EPS

 

$

27,309

 

 

 

126,619,790

 

 

$

0.000

 

Effect of dilutive securities

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

-

 

 

 

79,467

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted EPS

 

$

27,309

 

 

 

126,699,257

 

 

$

0.000

 

 

All outstanding securities that could potentially dilute basic earnings (loss) per share ("EPS") were not included in the computation of diluted EPS because to do so would have been anti-dilutive for the three months ended September 30, 2012 and 2011.  Shares potentially issuable consist of the following:

 

 

 

 

Shares Potentially Issuable

 

 

 

 

2012

 

 

 

2011

 

Series E 5% Convertible Preferred Stock

 

 

2,251,391

 

 

 

6,754,173

 

Series F Convertible Preferred Stock

 

 

45,000,000

 

 

 

—

 

Series G Convertible Preferred Stock

 

 

62,500,000

 

 

 

—

 

Convertible notes payable

 

 

53,072,204

 

 

 

—

 

Stock options

 

 

46,930,000

 

 

 

43,220,000

 

Warrants

 

 

2,395,000

 

 

 

75,000

 

Total

 

 

212,148,595

 

 

 

50,049,173