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14. NET INCOME (LOSS) PER COMMON SHARE

12 Months Ended

Sep. 30, 2012

Basic earnings per share (EPS) excludes dilution and is computed by dividing net income by the weighted average of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other common stock equivalents (convertible preferred stock, convertible debt, warrants to purchase common stock and common stock options) were exercised or converted into common stock. The following table provides a reconciliation of the numerators and denominators of the basic and diluted per-share computations:

		2012			2011			2010

Net income (loss) – available to
common shareholders	$	(17,645,930	)	$	(26,780,712	)	$	8,950,973
Less: Conversion of derivative
instruments		—			(4,199,256	)		(20,130,098	)
Net loss - diluted	$	(17,645,930	)	$	(30,979,968	)	$	(11,179,125	)

Weighted average number of
shares - basic and diluted		251,836,540			208,488,987			202,102,859

Earnings per share - basic	$	(0.07	)	$	(0.13	)	$	0.04
Earnings per share - diluted	$	(0.07	)	$	(0.15	)	$	(0.06	)

Excluded from the above computations of weighted-average shares for diluted net loss per share were options and warrants to purchase 9,073,006, 25,353,707, and 24,175,054 shares of common stock as of September 30, 2012, 2011 and 2010, respectively. These securities were excluded because their inclusion would have an anti-dilutive effect on net loss per share diluted.

- Definition

Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.

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