Quarterly report pursuant to Section 13 or 15(d)

Income (Loss) per Common Share

v2.4.0.8
Income (Loss) per Common Share
 6 Months Ended
May 31, 2013
Earnings Per Share [Abstract]  
Income (Loss) per Common Share

Note 2 – 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     Six Months Ended  
     May 31, 2013     May 31, 2012     May 31, 2013      May 31, 2012  

Numerator:

          

Net (Loss) Income

    $ (243,658 )    ($ 3,244,930 )    $ 348       ($ 4,906,993 ) 
  

 

 

    

 

 

    

 

 

     

 

 

  

Denominator:

          

Weighted-average shares outstanding-basic

      10,946,743        11,322,143        10,964,370         11,405,106   

Dilutive common shares issuable upon exercise of stock options

      —          —          118,194         —     
  

 

 

    

 

 

    

 

 

     

 

 

  

Weighted-average shares-diluted

      10,946,743        11,322,143        11,082,564         11,405,106   
  

 

 

    

 

 

    

 

 

     

 

 

  

Net (loss) income per common share:

          

Basic

    $ (0.02 )    ($ 0.28 )    $ 0.00       ($ 0.43 ) 
  

 

 

    

 

 

    

 

 

     

 

 

  

Diluted

    $ (0.02 )    ($ 0.28 )    $ 0.00       ($ 0.43 ) 
  

 

 

    

 

 

    

 

 

     

 

 

  

For the three months ended May 31, 2013 and May 31, 2012, respectively, due to the Company incurring net losses, 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.

For the six months ended May 31, 2013, the Company excluded the effect of 457,000 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 six months ended May 31, 2012, due to the Company incurring net losses, 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.