Quarterly report pursuant to Section 13 or 15(d)

Income (Loss) per Common Share

v3.7.0.1
Income (Loss) per Common Share
3 Months Ended
Feb. 28, 2017
Earnings Per Share [Abstract]  
Income (Loss) per Common Share

Note 7 – Income (Loss) per Common Share

Net income (loss) per common share data are based on net income. The following table sets forth the calculation of basic and diluted (loss) earnings per share:

 

     For the three months ended
February 28, 2017
     For the three months ended
February 29, 2016
 

Numerator:

     

Net Income (Loss)

   $ 486,923      ($ 122,936

Denominator:

     

Weighted-average shares outstanding-basic

     6,901,108        8,971,373  

Dilutive common shares issuable upon exercise of stock options

     536,135        —    

Weighted-average shares-diluted

     7,437,243        8,971,373  
  

 

 

    

 

 

 

Earnings (Loss) per share:

     

Basic

   $ 0.07      ($ 0.01
  

 

 

    

 

 

 

Diluted

   $ 0.07      ($ 0.01
  

 

 

    

 

 

 

For the three months ended February 28, 2017, the Company included the effect of all outstanding stock options in the computation of diluted earnings per share, as all of the outstanding stock options were in the money as of February 28, 2017. For the three months ended February 29, 2016, the Company excluded the effect of all outstanding stock options from the computation of diluted earnings per share, as the effect of potentially dilutive shares from the outstanding stock options would be anti-dilutive.