Net Loss Per Common Share

9 Months Ended

Jun. 30, 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 June 30, 2016 and 2015, there were 450,991 and 271,471 outstanding common share equivalents, respectively, that were not included in the computation of Diluted EPS for the three and nine months ended June 30, 2016 and the three and nine months ended June 30, 2015, respectively as their effect would be anti-dilutive. The common stock equivalents outstanding as of June 30, 2016 and 2015 consisted of the following:

	June 30,		June 30,
	2016		2015
Exercise of outstanding common stock options and warrants		450,991		271,471
Total common stock equivalents		450,991		271,471