Net Loss Per Share Of Common Stock

6 Months Ended

Apr. 30, 2012

Net Loss Per Share Of Common Stock [Abstract]

Net Loss Per Share Of Common Stock

6. NET LOSS PER SHARE OF COMMON STOCK

In accordance with ASC 260, “Earnings Per Share”, basic net loss per common share (“Basic EPS”) is computed by dividing net loss by the weighted average number of common shares outstanding. Diluted net loss per common share (“Diluted EPS”) is computed by dividing net loss by the weighted average number of common shares and dilutive common share equivalents and convertible securities then outstanding. Diluted EPS for all periods presented is the same as Basic EPS, as the inclusion of the effect of common share equivalents then outstanding would be anti-dilutive. For this reason, excluded from the calculation of Diluted EPS for the six and three-month periods ended April 30, 2012 and 2011, were stock options to purchase 18,567,045 and 19,622,045 shares respectively, and warrants to purchase 7,500,000 and 7,500,000 shares, respectively.