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Loss Per Common Share
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9 Months Ended |
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Mar. 31, 2013
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| Earnings Per Share [Text Block] |
9. Loss Per Common Share Basic loss per common share is computed by dividing the net loss allocated to common stockholders by the weighted-average number of shares of common stock outstanding during the period. For purposes of calculating diluted earnings per common share, the denominator includes both the weighted-average number of shares of common stock outstanding and the number of common stock equivalents if the inclusion of such common stock equivalents is dilutive. Dilutive common stock equivalents potentially include stock options and warrants using the treasury stock method. For the three and nine month periods ended March 31, 2013 and 2012, the Company incurred a net loss which cannot be diluted, so basic and diluted loss per common share are the same. As of March 31, 2013, shares issuable which could potentially dilute future earnings include 6,760,000 stock options and 21,040,796 warrants. As of March 31, 2012, shares issuable which could potentially dilute future earnings include 5,476,667 stock options and 20,940,796 warrants. |