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