EARNINGS PER SHARE (EPS)

12 Months Ended

Mar. 31, 2014

EARNINGS PER SHARE (EPS)

EARNINGS PER SHARE (EPS)

NOTE 17 - EARNINGS PER SHARE (EPS)

Basic EPS is computed by dividing reported earnings available to stockholders by the weighted average shares outstanding. Diluted EPS also includes the effect of dilutive potential common shares. The following table provides a reconciliation of the numerators and denominators reflected in the basic and diluted earnings per share computations, as required under FASB ASC 260.

	March 31, 2014			March 31, 2013
Basic EPS
Net Loss	$	(7,095,391	)	$	(2,411,937	)
Weighted average shares	20,766,914			19,004,897
Basic Loss per share	$	(0.34	)	$	(0.13	)
Diluted EPS
Net Loss	$	(7,095,391	)	$	(2,411,937	)
Dilutive effect of convertible preferred stock, warrants and stock options	—			—
Diluted weighted average shares	20,766,914			19,004,897
Diluted Loss per share	$	(0.34	)	$	(0.13	)

All potential common share equivalents that have an anti-dilutive effect (i.e. those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. For the period ended March 31, 2014 and 2013, there were 4,801,246 and 5,594,949, respectively, of potentially anti-dilutive stock options, warrants and convertible preferred stock, none of which were included in the EPS calculations above.