Quarterly report pursuant to Section 13 or 15(d)

Income (Loss) per Common Share

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Income (Loss) per Common Share
 9 Months Ended
Aug. 31, 2018
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, 2018     August 31, 2017     August 31, 2018     August 31, 2017  

Numerator:

        

Net Income (Loss)

   $ 244,984     $ 652,019     ($ 1,745,582 )    $ 1,635,882  
 

 

 

    

 

 

    

 

 

    

 

 

  

Denominator:

        

Weighted-average shares outstanding-basic

     7,694,662       7,100,232       7,350,868       7,049,782  
 

 

 

    

 

 

    

 

 

    

 

 

  

Dilutive common shares issuable upon exercise of stock options

     681,013       694,623       —         613,584  
 

 

 

    

 

 

    

 

 

    

 

 

  

Weighted-average shares-diluted

     8,375,675       7,794,855       7,350,868       7,663,366  
 

 

 

    

 

 

    

 

 

    

 

 

  

Net income (loss) per common share:

        

Basic

   $ 0.03     $ 0.09     ($ 0.24 )    $ 0.23  
 

 

 

    

 

 

    

 

 

    

 

 

  

Diluted

   $ 0.03     $ 0.08     ($ 0.24 )    $ 0.21  
 

 

 

    

 

 

    

 

 

    

 

 

  

For the three and nine months ended August 31, 2018, the Company excluded the effect of all 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, 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.