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Net loss per share
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3 Months Ended |
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Oct. 31, 2012
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| Earnings Per Share [Text Block] |
Note 2 – Net loss per share Basic net income (loss) per share represents net income (loss) divided by the weighted average number of common shares outstanding during the period. The dilutive effect of potential common shares, consisting of outstanding stock options and unvested restricted stock, is determined using the treasury stock method. Diluted weighted average shares outstanding for the three months ended October 31, 2012 and 2011 do not include the potential common shares from stock options and unvested restricted stock because to do so would have been antidilutive and as such is the same as basic weighted average shares outstanding. There were no potential common shares (“in the money options”) or unvested restricted stock excluded from the calculation of diluted earnings per share during the three months ended October 31, 2012 and 2011. For the three months ended October 31, 2012 and 2011, the effect of approximately 686,000 and 785,000 respectively, of outstanding “out of the money” options to purchase common shares were excluded from the calculation of diluted net loss per share because their effect would be anti-dilutive. |