Quarterly report pursuant to Section 13 or 15(d)

Net Loss per Common Share

v2.4.0.6
Net Loss per Common Share
9 Months Ended
Aug. 31, 2012
Net Loss per Common Share [Abstract]  
Net Loss per Common Share

Note 2 – Net Loss per Common Share

The following table sets forth the calculation of basic and diluted net loss per common share:

 

                                 
    Three Months Ended     Nine Months Ended  
    August 31,
2012
    August 31,
2011
    August 31,
2012
    August 31,
2011
 

Numerator:

                               

Net Loss

  ($ 547,097   ($ 2,382,416   ($ 5,454,090   ($ 1,971,568
   

 

 

   

 

 

   

 

 

   

 

 

 

Denominator:

                               

Weighted-average shares outstanding-basic

    11,166,496       11,757,803       11,325,280       11,754,324  

Dilutive common shares issuable upon exercise of stock options

    —         —         —         —    
   

 

 

   

 

 

   

 

 

   

 

 

 

Weighted-average shares-diluted

    11,166,496       11,757,803       11,325,280       11,754,324  
   

 

 

   

 

 

   

 

 

   

 

 

 

Net loss per common share:

                               

Basic

  ($ .05   ($ .20   ($ .48   ($ .17
   

 

 

   

 

 

   

 

 

   

 

 

 

Diluted

  ($ .05   ($ .20   ($ .48   ($ .17
   

 

 

   

 

 

   

 

 

   

 

 

 

 

 

For the three and nine months ended August 31, 2012 and August 31, 2011, due to the Company incurring net losses for both periods, the Company excluded the effect of all outstanding stock options from the computation of diluted earnings per share, as the effect of potentially dilutive shares would be anti-dilutive.