13. NET LOSS PER COMMON SHARE

12 Months Ended

Sep. 30, 2015

Accounting Policies [Abstract]

13. NET LOSS PER COMMON SHARE

Basic loss per share is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding during the period.  The Company’s potentially dilutive shares, which include outstanding common stock options, common stock warrants, restricted stock and shares issuable on convertible debt, have not been included in the computation of diluted net loss per share for all periods presented, as the result would be anti-dilutive.  For the years presented, the gain on derivative instruments in not included in net loss available to common shareholders for purposes of computing dilutive loss per share because its effect is anti-dilutive.

The following table provides a reconciliation of the numerators and denominators of the basic and diluted per-share computations:  

	2015			2014			2013
Net loss available to
common shareholders	$	(34,674,646	)	$	(28,483,712	)	$	(9,230,478	)
Less:  Gain on derivative
Instruments		-			(248,767	)		(10,750,666	)
Net loss - diluted	$	(34,674,646	)	$	(28,732,479	)	$	(19,981,144	)
Weighted average number of
shares - basic and diluted		82,519,027			58,804,622			30,279,442
Loss per share - basic	$	(0.42	)	$	(0.48	)	$	(0.30	)
Loss per share - diluted	$	(0.42	)	$	(0.49	)	$	(0.66	)

For the year ended September 30, 2015, the gain on derivatives is not excluded from the numerator in calculating diluted loss per share because the gain relates to derivative warrants that were priced higher than the average market price during the period.

In accordance with the contingently issuable shares guidance of FASB ASC Topic 260, Earnings Per Share, the calculation of diluted net loss per share excludes the following dilutive securities because their inclusion would have been anti-dilutive as of September 30:

	2015	2014	2013
Options and Warrants	58,421,058	39,994,707	12,350,633
Convertible Debt	1,871,283	276,014	276,014
Unvested Restricted Stock	15,100,000	15,700,000	-
Total	75,392,341	55,970,721	12,626,647