STOCKHOLDERS' EQUITY

3 Months Ended

Jun. 30, 2012

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY

5.STOCKHOLDERS’ EQUITY

Basic loss per share is computed using the net loss and the weighted average number of common shares outstanding during the period. Diluted loss per share is computed using the net loss and the weighted average number of common shares and potential common shares outstanding during the period when the potential common shares are dilutive. Potential dilutive common shares include outstanding stock options.

Weighted average outstanding options to purchase 3,244,907 shares and 1,574,383 shares of the Company’s common stock have been excluded from the computation of diluted net loss per share for the three month periods ended June 30, 2012 and 2011, respectively, because the effect of their inclusion would have been anti-dilutive.

The change in accumulated other comprehensive loss during the three month periods ended June 30, 2012 and 2011 is the result of the effect of foreign exchange rate changes.