LOSS PER SHARE

12 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

LOSS PER SHARE

NOTE I — LOSS PER SHARE

The following table presents the computation of basic and diluted loss per share:

	For the Year Ended September 30, 2012				For the Year Ended September 30, 2011
Net loss available for common shareholders		$	(7,150,712	)		$	(10,515,124	)
Net Loss per share – basic and diluted		$	(0.74	)		$	(1.67	)
Weighted average common shares outstanding – basic			9,601,525				6,280,563
Weighted average common shares outstanding – diluted			9,601,525				6,280,563

During the years ended September 30, 2012 and 2011, common stock equivalents are not considered in the calculation of the weighted average number of common shares outstanding because they would be anti-dilutive, thereby decreasing the net loss per common share.