10. Loss Per Share

Basic loss per share is computed by dividing net loss less dividends payable on preferred stock by the weighted-average number of common shares outstanding during the reporting period. Diluted loss per share is computed similar to basic loss per share except that it reflects the potential dilution that could occur if dilutive securities or other obligations to issue common stock were exercised or converted into common stock.


(in thousands, except per share amounts)		Three Months Ended
		July 31,
		2014		2013
Net loss	$	(247)	$	(633)
Dividends paid and payable on preferred stock		-		(66)
Net loss available to common stockholders	$	(247)	$	(699)

Weighted-average shares of common stock outstanding, basic		16,384		15,297
Effect of dilutive securities		-		-
Weighted-average shares of common stock outstanding, diluted		16,384		15,297

Loss per share of common stock:
Basic	$	(0.02)	$	(0.05)
Diluted	$	(0.02)	$	(0.05)

Antidilutive securities
Weighted average number of stock options		1,091		1,695
Weighted average number of warrants		719		909
Weighted average number of preferred stock		-		1,111

Potentially dilutive securities that are not included in the diluted net loss calculation are antidilutive because the exercise prices of these securities are greater than the average market price of the stock during the respective periods. As noted above, the 1,666,667 shares of preferred stock were converted into shares of common stock on a 1-for-1 basis on June 30, 2013.