Net Loss Per Share

3 Months Ended

Apr. 30, 2012

Net Loss Per Share [Abstract]

Net Loss Per Share

3.Net Loss Per Share

Basic loss per share is calculated by dividing the net loss by the weighted average number of common shares outstanding for the period. Diluted loss per share is calculated by dividing the net loss by the weighted average number of common shares and common share equivalents outstanding for the period. For the purposes of this calculation, stock options and warrants are considered to be common share equivalents, and are determined using the treasury stock method. Common share equivalents are only included in the calculation of diluted loss per share when their effect is dilutive. Because we have incurred a net loss for all periods presented, the effect of common share equivalents is anti-dilutive, and there is no difference between basic loss per share and diluted loss per share. As of April 30, 2012 and 2011, the number of stock options and warrants not included in the computation of diluted net loss per share totaled approximately 4,622,000 and 3,934,000, respectively.