Correction of Previously Reported Loss Per Share

12 Months Ended

Sep. 30, 2012

Correction Of Previously Reported Loss Per Share [Abstract]

CORRECTION OF PREVIOUSLY REPORTED LOSS PER SHARE

NOTE 10       CORRECTION OF PREVIOUSLY REPORTED LOSS PER SHARE

During the year ended September 30, 2012 we determined that our presentation of net loss per share (basic and diluted) and weighted average number of shares outstanding (basic and diluted) in previously issued financial statements were not reported correctly.  This was due to the fact that our treasury shares were incorrectly reported as issued and outstanding.  The treasury shares reported as issued and outstanding totaled 2,500,000, and were included in the denominator of our loss per share calculation and in the total reported weighted average shares outstanding.  The correction of this does not result in any change to net loss, the balance sheet or to operations for the year ended September 30, 2011 or for any quarter in that year, or for the fiscal 2012 quarters ended December 31, 2011, March 31, 2012 and June 30, 2012, respectively.  The treasury shares were retired during the year ended September 30, 2012.  The following table represents the changes in net loss per share (basic and diluted) and weighted average number of shares outstanding (basic and diluted) for each of the previously described periods, respectively.

	For the Three Months Ended December 31, 2010 (unaudited)
	Previously Stated			Corrected
Net Loss per Share (basic and diluted)	$	(0.00	)	$	(0.00	)
Weighted Average Number of Shares Outstanding (basic and diluted)		7,080,357			4,580,357

	For the Three Months Ended March 31, 2011 (unaudited)						For the Six Months Ended March 31, 2011 (unaudited)
	Previously Stated			Corrected			Previously Stated			Corrected
Net Loss per Share (basic and diluted)	$	(2.51	)	$	(3.84	)	$	(2.54	)	$	(3.90	)
Weighted Average Number of Shares Outstanding (basic and diluted)		7,206,167			4,706,167			7,142,914			4,642,914

	For the Three Months Ended June 30, 2011 (unaudited)						For the Nine Months Ended June 30, 2011 (unaudited)
	Previously Stated			Corrected			Previously Stated			Corrected
Net Loss per Share (basic and diluted)	$	(0.04	)	$	(0.05	)	$	(2.17	)	$	(3.07	)
Weighted Average Number of Shares Outstanding (basic and diluted)		11,337,610			8,837,610			8,546,287			6,046,287

	For the Year Ended September 30, 2011
	Previously Stated			Corrected
Net Loss per Share (basic and diluted)	$	(2.03	)	$	(2.76	)
Weighted Average Number of Shares Outstanding (basic and diluted)		9,432,466			6,932,466

	For the Three Months Ended  December 31, 2011 (unaudited)
	Previously Stated			Corrected
Net Loss per Share (basic and diluted)	$	(0.04	)	$	(0.05	)
Weighted Average Number of Shares Outstanding (basic and diluted)		12,053,346			9,553,346

	For the Three Months Ended March 31, 2012 (unaudited)						For the Six Months Ended March 31, 2012 (unaudited)
	Previously Stated			Corrected			Previously Stated			Corrected
Net Loss per Share (basic and diluted)	$	(0.06	)	$	(0.07	)	$	(0.10	)	$	(0.12	)
Weighted Average Number of Shares Outstanding (basic and diluted)		12,058,222			9,558,222			12,060,154			9,560,154

	For the Three Months Ended June 30, 2012 (unaudited)			For the Nine Months Ended June 30, 2012 (unaudited)
	Previously Stated		Corrected	Previously Stated			Corrected
Net Loss per Share (basic and diluted)		***		$	(0.16	)	$	(0.18	)
Weighted Average Number of Shares Outstanding (basic and diluted)					10,868,745			9,924,423

*** - No change for the three months ended June 30, 2012.