| Calculation of Basic and Diluted Net Income (Loss) per Common Share |
The following table sets forth the calculation of basic and diluted
net income (loss) per common share:
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Three Months Ended |
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Nine Months Ended |
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August 31, 2017 |
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August 31, 2016 |
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August 31, 2017 |
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August 31, 2016 |
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| Numerator: |
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Net Income (Loss)
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$ |
652,019 |
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($ |
2,644,361 |
) |
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$ |
1,635,882 |
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($ |
2,130,165 |
) |
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| Denominator: |
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Weighted-average shares outstanding-basic
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7,100,232 |
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7,583,771 |
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7,049,782 |
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8,546,110 |
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Dilutive common shares issuable upon exercise of stock options
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694,623 |
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— |
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613,584 |
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— |
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Weighted-average shares-diluted
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7,794,855 |
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7,583,771 |
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7,663,366 |
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8,546,110 |
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Net income (loss) per common share:
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| Basic |
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$ |
0.09 |
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($ |
0.35 |
) |
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$ |
0.23 |
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($ |
0.25 |
) |
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Diluted
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$ |
0.08 |
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($ |
0.35 |
) |
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$ |
0.21 |
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($ |
0.25 |
) |
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