Net (Loss) / Income Per Share (EPS)

9 Months Ended

Apr. 30, 2016

Accounting Policies [Abstract]

Net Income (Loss) Per Share (EPS)

Note 6 – Net (Loss) / Income Per Share (“EPS”):

Basic EPS and Diluted EPS for the three and nine-month periods ended April 30, 2016 have been computed by dividing the net loss available to common stockholders for the period by the weighted average shares outstanding during each period. All outstanding stock options, non-vested restricted stock, warrants and common stock underlying convertible preferred stock, representing 460,043,654 incremental shares at April 30, 2016, have been excluded from the respective computations of Diluted EPS as they are anti-dilutive, due to the losses generated during these periods.

Basic EPS and Diluted EPS for the three and nine-month periods ended April 30, 2015 have been computed by dividing the net loss available to common stockholders for the period by the weighted average shares outstanding during each 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, 2015, have been excluded from the respective computations of Diluted EPS as they are anti-dilutive, due to the losses generated during these periods.