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Net Income/Loss Per Share (“EPS”)
3 Months Ended
Apr. 30, 2014
Accounting Policies [Abstract]  
Net Loss Per Share (“EPS”)

Note 8 – Net Loss Per Share (“EPS”):

 

Basic EPS and Diluted EPS for the three-month period ended April 30, 2014have 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 357,628,977 incremental shares at April 30, 2014, have been excluded from the respective computations of Diluted EPS as they are anti-dilutive, due to the losses generated during those periods.

 

Basic earnings per share (“EPS”) and Diluted EPS for the three-month period ended April 30, 2013 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, 204,230,062 shares representing outstanding stock options and warrants which have an exercise price lower than the average market price for the quarter ended April 30, 2013 are included in the calculation of EPS. In addition, 17,699,999 shares underlying the remaining Series D convertible preferred stock at April 30, 2013 were added to the Diluted EPS calculation. All remaining outstanding stock options and warrants which have out-of-the-money exercise prices, representing 43,927,358 incremental shares in aggregate, have been excluded from the April 30, 2013 computation of Diluted EPS, as they are anti-dilutive.

 

Basic EPS and Diluted EPS for the nine-month periods ended April 30, 2014 and 2013 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 357,628,977 incremental shares at April 30, 2014 and 277,647,594 incremental shares at April 30, 2013, have been excluded from the respective computations of Diluted EPS as they are anti-dilutive, due to the losses generated during those periods.