Note 14 - Earnings (loss) Per Share

9 Months Ended

Jun. 30, 2013

Notes

Note 14 - Earnings (loss) Per Share

Note 14 – Earnings (Loss) Per Share

The Company presents earnings (loss) per share on a basic and diluted basis. Basic earnings (loss) per share has been computed by dividing net earnings by the weighted average number of shares outstanding. Diluted earnings (loss) per share has been computed by dividing net earnings by the weighted average number of shares outstanding including the dilutive effect of equity securities. The weighted average number of shares calculated for diluted EPS excludes the potential common stock that would be exercised under the warrants granted to investors because of their anti-dilutive effect.

The following is a reconciliation of the basic and diluted earnings (loss) per share computation:

	For the Three Months Ended June 30,
		2013	2012
Net loss		$(1,029,283)	$     (12,463)
Weighted average common shares
(denominator for basic loss per share)		39,061,840	38,247,188
Effect of dilutive securities:
Warrants		-	-
Weighted average common shares
(denominator for diluted loss per share)		39,061,840	38,247,188
Basic loss per share		$        (0.03)	$         (0.00)
Diluted loss per share		$        (0.03)	$         (0.00)

	For the Nine Months Ended June 30,
		2013	2012
Net loss		$(2,369,686)	$ (1,155,412)
Weighted average common shares
(denominator for basic loss per share)		39,061,840	35,860,647
Effect of dilutive securities:
Warrants		-	-
Weighted average common shares
(denominator for diluted loss per share)		39,061,840	35,860,647
Basic loss per share		$        (0.06)	$         (0.03)
Diluted loss per share		$        (0.06)	$         (0.03)

For the nine months ended June 30, 2013 and 2012, a total of 4,000,000 warrants have not been included in the calculation of diluted earnings per share in order to avoid any anti-dilutive effect.