Basic and Diluted Loss Per Share

6 Months Ended

Jan. 31, 2019

Earnings Per Share [Abstract]

Basic and Diluted Loss Per Share

6. BASIC AND DILUTED LOSS PER SHARE

Basic net loss per common share is computed by dividing net loss attributable to common shareholders by the weighted average number of common shares outstanding during the period. Diluted net loss per common share is computed giving effect to all dilutive potential common shares that were outstanding during the period. Diluted potential common shares consist of incremental shares issuable upon conversion of preferred stock. In computing diluted net loss per share for the three and six months ended January 31, 2019 and 2018, no dilution adjustment has been made to the weighted average outstanding common shares because the assumed the conversion of preferred stock would be anti-dilutive.

Potential common shares not included in calculating diluted net loss per share are as follows:

	January 31, 2019		January 31, 2018
Series C Preferred Stock		1,551,200		1,551,200
Series D Preferred Stock		13,910,000		13,910,000
Total		15,461,200		15,461,200