18

Net Loss per Share

The calculation of basic net loss per share is based on the net loss for the year ended September 30, 2011 attributable to equity shareholders of US$24,537,364 (2009: US$13,991,493 and 2010: US$32,782,883) and the weighted average number of ordinary shares of 62,945,047 outstanding during the year ended September 30, 2011 (2009: 56,964,129 shares and 2010: 62,438,155 shares).

The effects of 4,194,155 shares of stock options, 300,000 shares of restricted stock and 1,447,500 warrants outstanding during the year ended or as of September 30, 2011 are all anti-dilutive. As such, basic and diluted net loss per share for the year ended September 30, 2011 are the same.

The effects of 4,732,855 shares of stock options, 511,250 shares of restricted stock and 1,447,500 warrants outstanding during the year ended or as of September 30, 2010 are all anti-dilutive. As such, basic and diluted net loss per share for the year ended September 30, 2010 are the same.

The effects of 4,883,700 shares of stock options, 511,250 shares of restricted stock and 4,102,564 warrants outstanding during the year ended or as of September 30, 2009 were all anti-dilutive. As such, basic and diluted net loss per share for the years ended September 30, 2009 are the same.