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 nine month periods ended June 30, 2013 and 2012:



	Three Months Ended						Nine Months Ended
	June 30,						June 30,
	2013			2012			2013			2012
Basic EPS Computation
Net loss	$	(719,755	)	$	(497,020	)	$	(2,593,659	)	$	(1,059,491	)
Weighted average shares outstanding	4,499,260			4,477,651			4,492,727			4,481,737
Basic loss per share	$	(.16	)	$	(.11	)	$	(.58	)	$	(.24	)



	Three Months Ended						Nine Months Ended
	June 30,						June 30,
	2013			2012			2013			2012
Diluted EPS Computation
Net loss	$	(719,755	)	$	(497,020	)	$	(2,593,659	)	$	(1,059,491	)

Weighted average shares outstanding	4,499,260			4,477,651			4,492,727			4,481,737
Stock options	—			—			—			—
Stock compensation arrangements	—			—			—			—
Diluted shares outstanding	4,499,260			4,477,651			4,492,727			4,481,737

Diluted loss per share	$	(.16	)	$	(.11	)	$	(.58	)	$	(.24	)

For the three months ended June 30, 2013 and 2012, 11,079 and 10,131 shares, respectively, have been omitted from the calculation of diluted EPS as their effect would have been antidilutive. For the nine months ended June 30, 2013 and 2012, 10,492 and 11,451 shares, respectively, have been omitted from the calculation of diluted EPS as their effect would have been antidilutive.