Quarterly report pursuant to Section 13 or 15(d)

11. EARNINGS PER SHARE

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11. EARNINGS PER SHARE
3 Months Ended
Jul. 31, 2016
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

Basic earnings (loss) per share is computed by dividing earnings available to common stockholders by the weighted average number of shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted average number of shares and potentially dilutive common shares outstanding during the period increased to include the number of additional shares of common stock that would be outstanding if the potentially dilutive securities had been issued. Potential common shares outstanding principally include stock options and warrants. During the three months ended July 31, 2016 and 2015, the Company incurred losses. Accordingly, the effect of any common stock equivalent would be anti-dilutive during those periods and are not included in the calculation of diluted weighted average number of shares outstanding.

 

The table below sets forth the basic loss per share calculations:

 

    Three Months Ended July 31,  
    2016     2015  
Net loss   $ (1,031,966 )   $ (1,515,038 )
Basic weighted average number of shares outstanding     788,171,700       737,917,481  
Diluted weighted average number of shares outstanding     788,171,700       737,917,481  
Basic and diluted loss per share   $ (0.00 )     (0.00 )

 

The table below sets forth these potentially dilutive securities:

 

    Three Months Ended July 31,  
    2016     2015  
Excluded options     81,150,000       52,450,000  
Excluded warrants     84,969,908       72,969,908  
Total excluded options and warrants     166,119,908       125,419,908