Quarterly report pursuant to Section 13 or 15(d)

Income (Loss) per Common Share

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Income (Loss) per Common Share
 3 Months Ended
Feb. 28, 2013
Income (Loss) per Common Share [Abstract]  
Income (Loss) per Common Share

Note 2 – Income (Loss) per Common Share

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

 

                 
    For the three months ended
February 28, 2013		     For the three months ended
February 29, 2012		  

Numerator:

                

Net Income (Loss)

   $ 244,006     ($ 1,682,063 ) 

Denominator:

                

Weighted-average shares outstanding-basic

     10,982,389       11,488,980  

Dilutive common shares issuable upon exercise of stock options

     122,705       —    

Weighted-average shares-diluted

     11,105,094       11,488,980  
   

 

 

    

 

 

  

Earnings (Loss) per share:

                

Basic

   $ 0.02     ($ 0.15 ) 
   

 

 

    

 

 

  

Diluted

   $ 0.02     ($ 0.15 ) 
   

 

 

    

 

 

  

 

For the three months ended February 28, 2013, the Company excluded the effect of 510,589 outstanding 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 months ended February 29, 2012, 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 would be anti-dilutive.