| EARNINGS PER SHARE INFORMATION |
The calculation of the basic and diluted earnings per share is based
on the following data:
| |
|
Three months ended |
|
Six months ended |
| |
|
September 30, 2011 |
|
September 30, 2010 |
|
September 30, 2011 |
|
September 30, 2010 |
| |
|
|
|
|
|
|
|
|
| Net loss from continuing operations |
|
$ |
(146,114,884 |
) |
|
$ |
(3,842,708 |
) |
|
$ |
(150,443,717 |
) |
|
$ |
(6,916,000 |
) |
| Net income from discontinued operations |
|
|
3,245,649 |
|
|
|
3,286,288 |
|
|
|
11,899,714 |
|
|
|
7,231,448 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic weighted-average common shares outstanding |
|
|
55,787,554 |
|
|
|
51,840,015 |
|
|
|
55,787,554 |
|
|
|
51,852,447 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Effect of dilutive securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Warrants |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Stock options |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| Non-vesting share grants |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dilutive weighted average common shares outstanding |
|
|
55,787,554 |
|
|
|
51,840,015 |
|
|
|
55,787,554 |
|
|
|
51,852,447 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic loss per common share from continuing operations |
|
$ |
(2.62 |
) |
|
$ |
(0.07 |
) |
|
$ |
(2.70 |
) |
|
$ |
(0.13 |
) |
| Diluted loss per common share from continuing operations |
|
$ |
(2.62 |
) |
|
$ |
(0.07 |
) |
|
$ |
(2.70 |
) |
|
$ |
(0.13 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic income per common share from discontinued operations |
|
$ |
0.06 |
|
|
$ |
0.06 |
|
|
$ |
0.21 |
|
|
$ |
0.14 |
|
| Diluted income per common share from discontinued operations |
|
$ |
0.06 |
|
|
$ |
0.06 |
|
|
$ |
0.21 |
|
|
$ |
0.14 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total basic income per common share |
|
$ |
(2.56 |
) |
|
$ |
(0.01 |
) |
|
$ |
(2.48 |
) |
|
$ |
0.01 |
|
| Total diluted income per common share |
|
$ |
(2.56 |
) |
|
$ |
(0.01 |
) |
|
$ |
(2.48 |
) |
|
$ |
0.01 |
|
The diluted weighted average common shares outstanding for the six months ended September 30, 2011
and 2010 does not include the effect of potential conversion of certain warrants and stock options as their effects are anti-dilutive.
The dilutive weighted average common shares outstanding for the
six months ended September 30, 2011 and 2010, respectively, does not include the effect of the potential conversion of the Notes
because the average market share price the six months ended September 30, 2011 and 2010 was lower than potential conversion price
of the convertible notes for this period.
The diluted weighted average common shares outstanding for the six
months ended September 30, 2010 does not include the effect of the potential conversion of the Notes because conversion of the
Notes is not contingent upon any market event. Rather, the Notes are convertible to common stock upon the first to occur of (a)
the tenth New York business day following the Shelf Registration Statement Effective Date and (b) 13 July 2008.
|