Quarterly report pursuant to sections 13 or 15(d)

Net Loss Per Share

Net Loss Per Share

9 Months Ended

Jun. 30, 2011

Note 8: Net Loss Per Share

Net loss per share is calculated using the weighted average number of shares of common stock outstanding during the period. Basic weighted average common shares outstanding do not include shares of restricted stock that have not yet vested, although such shares are included as outstanding shares in the Company’s unaudited condensed consolidated balance sheet. Diluted net loss per share is computed using the weighted average number of common shares outstanding and if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable from restricted shares, stock options and convertible preferred stock. Preferred stock dividends are subtracted from net loss to determine the amount available to common stockholders.

The following table presents the computation of basic and diluted net loss per share:

	Three Months Ended June 30,						Nine Months Ended June 30,
	2011			2010			2011			2010

Loss from continuing operations	$	(1,150,938	)	$	(1,537,121	)	$	(5,064,985	)	$	(6,701,573	)
Less: preferred stock dividends		(480	)		(479	)		(1,438	)		(1,437	)
Loss from continuing operations applicable to common stock		(1,151,418	)		(1,537,600	)		(5,066,423	)		(6,703,010	)
Income (loss) from discontinued operations		7,561			197,187			(123,486	)		1,062,466
Net loss applicable to common stock	$	(1,143,857	)	$	(1,340,413	)	$	(5,189,909	)	$	(5,640,544	)

Weighted average common shares outstanding - basic and diluted		682,374			631,213			659,296			631,151

Earnings per share - basic and diluted1:
Loss from continuing operations	$	(1.69	)	$	(2.44	)	$	(7.68	)	$	(10.62	)
Discontinued operations		0.01			0.31			(0.19	)		1.68
Net loss	$	(1.68	)	$	(2.13	)	$	(7.87	)	$	(8.94	)

1 Certain amounts may not total due to rounding of individual components.

The following potentially dilutive securities were excluded from the calculation of diluted net loss per share because the effects were antidilutive based on the application of the treasury stock method and because the Company incurred net losses during the period:

	Three Months Ended June 30,				Nine Months Ended June 30,
	2011		2010		2011		2010

Options to purchase shares of common stock		24,013		5,263		26,645		31,675
Series E convertible preferred stock		127,840		127,840		127,840		127,840
Shares of non-vested restricted stock		1,342		5,203		1,342		7,422
		153,195		138,306		155,827		166,937

- Definition

The entire disclosure for earnings per share.

+ References+ Details