Per most recent filing >
The diluted loss per share for the three and six months ended December 31, 2006 excludes from the calculation 79,146,452 shares issuable upon the exercise of stock options and warrants and 26,551,395 shares issuable upon the conversion of convertible securities, respectively. These shares are excluded due to their anti-dilutive effect as a result of the Company’s net loss after adjusting for the embedded derivatives income effect during this period.
Dilutive shares used in the per share computation for the thirteen weeks ended December 27, 2005 are limited by the 150,000,000 shares authorized. In order to reflect maximum dilution, the 18,094,640 limitation may be assumed to reduce the number of shares issuable upon exercise of stock options by 13,281,785, and from the conversion of preferred stock by 1,300,000. The effect of the reduction of the remaining 3,512,855 shares to instruments issued to Laurus would be anti-dilutive and is ignored.
The dilutive net income per share computations for the thirteen and twenty-six week periods ended December 27, 2005 each exclude 1,700,000 shares, respectively, related to out-of-the-money stock options because the effect of including them would be anti-dilutive.
