Note 4 - Loss Per Share

3 Months Ended

Apr. 30, 2013

Earnings Per Share [Text Block]

4.             Loss Per Share

The Company calculates basic loss per share by dividing net loss by the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per share reflects the effects of potentially dilutive securities. Since the Company incurred a net loss for each of the three months ended April 30, 2013 and 2012, basic and diluted net loss per share for both such periods were the same because the inclusion of 1,068,826 and of 847,151 potentially dilutive securities related to outstanding stock awards, respectively, would have been antidilutive. Additionally, for the three months ended April 30, 2013 the 1,704,546 outstanding warrants issued to Broadwood and the 6,000,000 potential shares issuable to Elkhorn upon debt conversion, would have been anti-dilutive.