Loss per Share

Basic loss per share (EPS) is computed based on the weighted average number of common shares outstanding for the period. Diluted EPS reflects the maximum dilution that would have resulted from incremental common shares issuable upon the exercise of stock options and under deferred compensation agreements.

The following tables provide the components of the basic and diluted EPS computations for the three and six month periods ended March 31, 2013 and 2012:



	Three Months Ended						Six Months Ended
	March 31,						March 31,
	2013			2012			2013			2012
Basic EPS Computation
Net loss	$	(1,397,047	)	$	(278,503	)	$	(1,873,904	)	$	(562,471	)
Weighted average shares outstanding	4,494,735			4,475,603			4,489,460			4,483,776
Basic loss per share	$	(.31	)	$	(.06	)	$	(.42	)	$	(.13	)



	Three Months Ended						Six Months Ended
	March 31,						March 31,
	2013			2012			2013			2012
Diluted EPS Computation
Net loss	$	(1,397,047	)	$	(278,503	)	$	(1,873,904	)	$	(562,471	)

Weighted average shares outstanding	4,494,735			4,475,603			4,489,460			4,483,776
Stock options	—			—			—			—
Stock compensation arrangements	—			—			—			—
Diluted shares outstanding	4,494,735			4,475,603			4,489,460			4,483,776

Diluted loss per share	$	(.31	)	$	(.06	)	$	(.42	)	$	(.13	)

For the three months ended March 31, 2013 and 2012, 10,362 and 10,238 shares, respectively, have been omitted from the calculation of diluted EPS as their effect would have been antidilutive. For the six months ended March 31, 2013 and 2012, 10,198 and 12,111 shares, respectively, have been omitted from the calculation of diluted EPS as their effect would have been antidilutive.