Quarterly report pursuant to Section 13 or 15(d)

Income (Loss) per Common Share

v3.8.0.1
Income (Loss) per Common Share
 9 Months Ended
Aug. 31, 2017
Earnings Per Share [Abstract]  
Income (Loss) per Common Share

Note 7 – Income (Loss) per Common Share

The following table sets forth the calculation of basic and diluted net income (loss) per common share:

 

     Three Months Ended      Nine Months Ended  
     August 31, 2017      August 31, 2016      August 31, 2017      August 31, 2016  
Numerator:            

Net Income (Loss)

    $ 652,019      ($ 2,644,361 )     $ 1,635,882      ($ 2,130,165 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  
Denominator:            

Weighted-average shares outstanding-basic

      7,100,232        7,583,771        7,049,782        8,546,110  
  

 

 

     

 

 

     

 

 

     

 

 

  

Dilutive common shares issuable upon exercise of stock options

      694,623        —          613,584        —    
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted-average shares-diluted

      7,794,855        7,583,771        7,663,366        8,546,110  
  

 

 

     

 

 

     

 

 

     

 

 

  

Net income (loss) per common share:

            
Basic    $ 0.09      ($ 0.35 )     $ 0.23      ($ 0.25 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted

    $ 0.08      ($ 0.35 )     $ 0.21      ($ 0.25 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

 

For the three and nine months ended August 31, 2017, the Company excluded the effect of 22,500 and 22,500 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.

For the three and nine months ended August 31, 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.