Net Loss Per Common Share

6 Months Ended

Mar. 31, 2016

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.  As of March 31, 2016 and 2015, there were 436,705 and 262,603 outstanding common share equivalents, respectively, that were not included in the computation of Diluted EPS for the three and six months ended March 31, 2016 and the three and six months ended March 31, 2015, respectively as their effect would be anti-dilutive. The common stock equivalents outstanding as of March 31, 2016 and 2015 consisted of the following:

	March 31,		March 31,
	2016		2015
Exercise of outstanding common stock options and warrants		436,705		262,603
Total common stock equivalents		436,705		262,603