Earnings (Loss) Per Common Share

6 Months Ended

Mar. 31, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 8 – Earnings (Loss) Per Common Share

Basic earnings (loss) per common share is computed by dividing the net income applicable or loss attributable to common shares by the weighted average number of common shares. Diluted earnings per common share adjusts basic earnings per share for the effects of common stock options, common stock warrants, convertible preferred stock and other potential dilutive common shares outstanding during the periods.

For purposes of computing diluted earnings per share, no common share equivalents related to stock options were assumed to be outstanding for the three and six months ended March 31, 2013 and 2012. For the three and six months ended March 31, 2013 and 2012, no common share equivalents related to stock options were included in the calculation of dilutive shares since there was a loss from continuing operations and the inclusion of common share equivalents would be anti-dilutive. Also, if the Company had not been in a loss position as of March 31, 2013, 158,834 shares of restricted stock would have been considered in the denominator used to calculate diluted earnings per common share. In addition, as of March 31, 2013 and 2012, common stock options for 710,532 and 1,059,583 shares, respectively, with exercise prices above current quarterly average market price per share have been excluded from the calculation of dilutive earnings per share since their effect is also anti-dilutive.

 The computation of the weighted shares outstanding for the three months ended March 31 is as follows:

	March 31, 2013		March 31, 2012
Weighted average shares outstanding
Basic		14,770,943		15,002,818
Effect of dilutive securities
Stock Options		-0-		-0-
Dilutive Average Shares Outstanding		14,770,943		15,002,818

The computation of the weighted shares outstanding for the six months ended March 31 is as follows:

	March 31, 2013		March 31, 2012
Weighted average shares outstanding
Basic		14,721,733		15,091,356
Effect of dilutive securities
Stock Options		-0-		-0-
Dilutive Average Shares Outstanding		14,721,733		15,091,356