| Reconciliation of the numerator and denominator used in computing basic and diluted net loss per share |
| |
|
Three Months ended October 31, 2012 |
|
| |
|
Loss |
|
|
Shares |
|
|
Per share |
|
| |
|
(numerator) |
|
|
(denominator) |
|
|
amount |
|
| |
|
|
|
|
|
|
|
|
|
| Basic net loss per share – net loss and weighted average common shares outstanding |
|
$ |
(1,247,757 |
) |
|
|
10,703,309 |
|
|
$ |
(.12 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Effect of dilutive securities – stock options |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Effect of dilutive securities – warrants |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Diluted net loss per share – net loss, weighted average common shares outstanding and effect of stock options and warrants |
|
$ |
(1,247,757 |
) |
|
|
10,703,309 |
|
|
$ |
(.12 |
) |
| |
|
Three Months ended October 31, 2011 |
|
| |
|
Loss |
|
|
Shares |
|
|
Per share |
|
| |
|
(numerator) |
|
|
(denominator) |
|
|
amount |
|
| |
|
|
|
|
|
|
|
|
|
| Basic net loss per share – net loss and weighted average common shares outstanding |
|
$ |
(1,178,874 |
) |
|
|
10,703,309 |
|
|
$ |
(.11 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Effect of dilutive securities – stock options |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Effect of dilutive securities – warrants |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Diluted net loss per share – net loss, weighted average common shares outstanding and effect of stock options and warrants |
|
$ |
(1,178,874 |
) |
|
|
10,703,309 |
|
|
$ |
(.11 |
) |
| |
|
Six Months ended October 31, 2012 |
|
| |
|
Loss |
|
|
Shares |
|
|
Per share |
|
| |
|
(numerator) |
|
|
(denominator) |
|
|
amount |
|
| |
|
|
|
|
|
|
|
|
|
| Basic net loss per share – net loss and weighted average common shares outstanding |
|
$ |
(2,223,474 |
) |
|
|
10,703,309 |
|
|
$ |
(.21 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Effect of dilutive securities – stock options |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Effect of dilutive securities – warrants |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Diluted net loss per share – net loss, weighted average common shares outstanding and effect of stock options and warrants |
|
$ |
(2,223,474 |
) |
|
|
10,703,309 |
|
|
$ |
(.21 |
) |
| |
|
Six Months ended October 31, 2011 |
|
| |
|
Loss |
|
|
Shares |
|
|
Per share |
|
| |
|
(numerator) |
|
|
(denominator) |
|
|
amount |
|
| |
|
|
|
|
|
|
|
|
|
| Basic net loss per share – net loss and weighted average common shares outstanding |
|
$ |
(2,032,831 |
) |
|
|
10,548,961 |
|
|
$ |
(.19 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Effect of dilutive securities – stock options |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Diluted net loss per share – net loss, weighted average common shares outstanding and effect of stock options |
|
$ |
(2,032,831 |
) |
|
|
10,548,961 |
|
|
$ |
(.19 |
) |
|
| Summary of option activity |
| |
|
|
Shares |
|
|
Weighted
average
exercise
price |
|
|
Weighted
average
remaining
contractual
life (1) |
|
|
Aggregate
intrinsic
value (2) |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Balance April 30, 2012 |
|
|
|
1,745,900 |
|
|
$ |
2.34 |
|
|
|
5.29 |
|
|
|
– |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Granted |
|
|
|
100,000 |
|
|
$ |
0.69 |
|
|
|
– |
|
|
|
– |
|
| |
Exercised |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
| |
Expired |
|
|
|
(114,450 |
) |
|
$ |
2.92 |
|
|
|
– |
|
|
|
– |
|
| |
Balance October 31, 2012 |
|
|
|
1,731,450 |
|
|
$ |
2.21 |
|
|
|
5.08 |
|
|
|
– |
|
| |
Exercisable October 31, 2012 |
|
|
|
1,550,950 |
|
|
$ |
2.35 |
|
|
|
5.15 |
|
|
|
– |
|
| |
Expected to vest October 31, 2012 |
|
|
|
1,645,000 |
|
|
$ |
2.21 |
|
|
|
5.08 |
|
|
|
– |
|
|