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. For the three and nine months ended June 30, 2014, 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, 2014 and 2013:

Three months Ended June 30,
	2014			2013

Net loss	$	(1,529,920	)	$	(1,029,283)

Weighted average common shares (denominator for basic loss per share)		46,917,445			39,061,840



Weighted average common shares (denominator for diluted loss per share)		46,917,445			39,061,840

Basic and diluted loss per share	$	(0.03	)	$	(0.03	)

The following is a reconciliation of the basic and diluted earnings (loss) per share computation for the nine months ended June 30, 2014 and 2013:

Nine months Ended June 30,
	2014			2013

Net loss	$	(4,440,454	)	$	(2,369,686)

Weighted average common shares (denominator for basic loss per share)		46,917,445			39,061,840



Weighted average common shares (denominator for diluted loss per share)		46,917,445			39,061,840

Basic and diluted loss per share	$	(0.09	)	$	(0.06	)