LOSS PER SHARE

9 Months Ended

Apr. 30, 2015

LOSS PER SHARE [Text Block]

NOTE 11: LOSS PER SHARE

The following table reconciles weighted average number of shares used in the computation of basic and diluted loss per share:

		Three Months Ended April 30,						Nine Months Ended April 30,
		2015			2014			2015			2014
Numerator
Net Loss for the Period	$	(5,347,729	)	$	(6,697,107	)	$	(17,949,496	)	$	(19,755,935	)
Denominator
Basic Weighted Average Number of Shares		92,034,908			89,924,411			91,683,568			88,666,564
Dilutive Stock Options and Warrants		-			-			-			-
Diluted Weighted Average Number of Shares		92,034,908			89,924,411			91,683,568			88,666,564
Net Loss per Share, Basic and Diluted	$	(0.06	)	$	(0.07	)	$	(0.20	)	$	(0.22	)

For the three months and nine months ended April 30, 2015 and 2014, all outstanding stock options and share purchase warrants were excluded from the computation of diluted loss per share since the Company reported net losses for those periods and their effects would be anti-dilutive.