Net Loss Per Common Share

3 Months Ended

Dec. 31, 2015

Notes to Financial Statements

Net Loss Per Common Share

Basic net loss per common share ("Basic EPS") is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the period.

Diluted net loss per common share ("Diluted EPS") is computed by dividing net loss attributable to common shareholders by the sum of the weighted-average number of common shares outstanding and the weighted-average dilutive common share equivalents outstanding.  The computation of Diluted EPS does not assume exercise or conversion of securities that would have an anti-dilutive effect.

Common share equivalents consist of shares issuable upon the exercise of common stock options and warrants, and shares issuable upon conversion of preferred stock.  As of December 31, 2015 and 2014, there were 411,390 and 323,251 outstanding common share equivalents, respectively, that were not included in the computation of Diluted EPS for the three months ended December 31, 2015 and 2014, respectively as their effect would be anti-dilutive. The common stock equivalents outstanding as of December 31, 2015 and 2014 consisted of the following:

	December 31, 2015		December 31, 2014
Exercise of outstanding common stock options and warrants		411,390		281,251
Exercise and conversion of outstanding Series D Preferred warrants		–		42,000
Total common stock equivalents		411,390		323,251