| Reconciliation of the numerator and denominator used in computing basic and diluted net loss per share |
| |
|
Three Months ended January 31, 2013 |
| |
|
Loss |
|
Shares |
|
Per share |
| |
|
(numerator) |
|
(denominator) |
|
amount |
| |
|
|
|
|
|
|
| Basic net loss per share – net loss and weighted average common shares outstanding |
|
$ |
(781,663 |
) |
|
|
1,782,925 |
|
|
$ |
(.44 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| 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 |
|
$ |
(781,663 |
) |
|
|
1,782,925 |
|
|
$ |
(.44 |
) |
| |
|
Three Months ended January 31, 2012 |
| |
|
Loss |
|
Shares |
|
Per share |
| |
|
(numerator) |
|
(denominator) |
|
amount |
| |
|
|
|
|
|
|
| Basic net loss per share – net loss and weighted average common shares outstanding |
|
$ |
(4,182,611 |
) |
|
|
1,783,885 |
|
|
$ |
(2.34 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| 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 |
|
$ |
(4,182,611 |
) |
|
|
1,783,885 |
|
|
$ |
(2.34 |
) |
| |
|
Nine Months ended January 31, 2013 |
| |
|
Loss |
|
Shares |
|
Per share |
| |
|
(numerator) |
|
(denominator) |
|
amount |
| |
|
|
|
|
|
|
| Basic net loss per share – net loss and weighted average common shares outstanding |
|
$ |
(3,005,137 |
) |
|
|
1,784,898 |
|
|
$ |
(1.68 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| 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 |
|
$ |
(3,005,137 |
) |
|
|
1,784,898 |
|
|
$ |
(1.68 |
) |
| |
|
Nine Months ended January 31, 2012 |
| |
|
Loss |
|
Shares |
|
Per share |
| |
|
(numerator) |
|
(denominator) |
|
amount |
| |
|
|
|
|
|
|
| Basic net loss per share – net loss and weighted average common shares outstanding |
|
$ |
(6,215,443 |
) |
|
|
1,766,735 |
|
|
$ |
(3.52 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Effect of dilutive securities – stock options |
|
|
— |
|
|
|
— |
|
|
|
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Diluted net loss per share – net loss, weighted average common shares outstanding and effect of stock options |
|
$ |
(6,215,443 |
) |
|
|
1,766,735 |
|
|
$ |
(3.52 |
) |
|
| Summary of option activity |
| |
|
Shares |
|
Weighted
average
exercise
price |
|
Weighted
average
remaining
contractual
life (1) |
|
Aggregate
intrinsic
value (2) |
| |
|
|
|
|
|
|
|
|
| |
Balance April 30, 2012 |
|
|
|
290,983 |
|
|
$ |
14.04 |
|
|
|
5.29 |
|
|
|
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Granted |
|
|
|
16,667 |
|
|
$ |
4.14 |
|
|
|
— |
|
|
|
— |
|
| |
Exercised |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| |
Expired |
|
|
|
(21,075 |
) |
|
$ |
16.65 |
|
|
|
— |
|
|
|
— |
|
| |
Balance January 31, 2013 |
|
|
|
286,575 |
|
|
$ |
13.27 |
|
|
|
4.84 |
|
|
|
— |
|
| |
Exercisable January 31, 2013 |
|
|
|
257,325 |
|
|
$ |
14.10 |
|
|
|
4.91 |
|
|
|
— |
|
| |
Expected to vest January 31, 2013 |
|
|
|
272,167 |
|
|
$ |
13.27 |
|
|
|
4.84 |
|
|
|
— |
|
|