Transition report pursuant to Rule 13a-10 or 15d-10

(LOSS) PER SHARE

v3.5.0.1
(LOSS) PER SHARE
3 Months Ended
Mar. 31, 2016
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
14.
(LOSS) PER SHARE
 
Common share equivalents, options and warrants are were excluded from the computation of diluted loss per share for the three month periods ended March 31, 2016 and 2015 (unaudited), the years ended December 31, 2015 and March 31, 2015 (unaudited) and the nine month period ended December 31, 2014 as their effects are anti-dilutive.
 
The reconciliation of diluted (loss) per share for the year ended March 31, 2016 is presented below:
 
Numerator
 
 
 
 
Net income
 
$
1,036,148
 
Change in fair value of warrant derivative liability
 
 
(7,742,555)
 
Net (loss) used in computation of diluted EPS
 
$
(6,706,407)
 
 
 
 
 
 
Denominator
 
 
 
 
Basic weighted average number of shares outstanding
 
 
71,554,822
 
Warrants
 
 
8,429,435
 
Diluted weighted average number of shares outstanding
 
 
79,984,257
 
 
 
 
 
 
Diluted loss per share
 
$
(0.08)