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, 2018 and 2017:



	Three Months Ended						Six Months Ended
	March 31,						March 31,
	2018			2017			2018			2017
Basic EPS Computation
Net loss	$	(1,451,750	)	$	(1,903,101	)	$	(2,768,583	)	$	(3,205,110	)
Weighted average shares outstanding	17,552,623			9,348,388			15,843,520			9,348,388
Basic loss per share	$	(.08	)	$	(.20	)	$	(.17	)	$	(.34	)



	Three Months Ended						Six Months Ended
	March 31,						March 31,
	2018			2017			2018			2017
Diluted EPS Computation
Net loss	$	(1,451,750	)	$	(1,903,101	)	$	(2,768,583	)	$	(3,205,110	)

Weighted average shares outstanding	17,552,623			9,348,388			15,843,520			9,348,388
Stock options	—			—			—			—
Stock compensation arrangements	—			—			—			—
Warrants	—			—			—			—
Diluted shares outstanding	17,552,623			9,348,388			15,843,520			9,348,388

Diluted loss per share	$	(.08	)	$	(.20	)	$	(.17	)	$	(.34	)

For the three and six month periods ended March 31, 2018 and 2017, all outstanding stock options, warrants and shares issuable under stock compensation arrangements totaling 1,920,886 and 623,587 shares, respectively, have been omitted from the calculation of diluted EPS as their effect would have been antidilutive. The actual effect of these stock options and shares, if any, on the diluted earnings per share calculation will vary significantly depending on fluctuations in the market price of the Company's stock.