Net (Loss)/Income Per Share ("EPS")

3 Months Ended

Oct. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 8 – Net (Loss)/Income Per Share (“EPS”):

Basic EPS and Diluted EPS for the three-month period ended October 31, 2012 have been computed by dividing the net loss available to common stockholders for the period by the weighted average shares outstanding during that period. All outstanding stock options, non-vested restricted stock, warrants and common stock underlying convertible preferred stock, representing 162,146,167 incremental shares at October 31, 2012, have been excluded from the respective computations of Diluted EPS as they are anti-dilutive, due to the loss generated during that period.

Basic EPS and Diluted EPS for the three-month period ended October 31, 2011 have been computed by dividing the net income available to common stockholders for the period by the weighted average shares outstanding and the diluted weighted average shares outstanding during that period, respectively. Per the treasury method of calculating Diluted EPS, 5,424 shares representing outstanding stock options which have an exercise price lower than the average market price for the quarter ended October 31, 2011 are included in the calculation of EPS. All remaining outstanding stock options and warrants which have out-of-the-money exercise prices and common stock underlying convertible preferred stock, representing 110,086,551 incremental shares in aggregate, have been excluded from the October 31, 2011 computation of Diluted EPS, as they are anti-dilutive.