Quarterly report pursuant to Section 13 or 15(d)

(Loss) Income per Common Share

v3.3.1.900
(Loss) Income per Common Share
3 Months Ended
Feb. 29, 2016
Earnings Per Share [Abstract]  
(Loss) Income per Common Share

Note 8 – (Loss) Income per Common Share

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

 

     For the three months ended
February 29, 2016
     For the three months ended
February 28, 2015
 

Numerator:

     

Net (Loss) Income

   ($ 122,936    $ 286,170   

Denominator:

     

Weighted-average shares outstanding-basic

     8,971,373         9,824,566   

Dilutive common shares issuable upon exercise of stock options

     —           234,083   

Weighted-average shares-diluted

     8,971,373         10,058,649   
  

 

 

    

 

 

 

(Loss) Earnings per share:

     

Basic

   ($ 0.01    $ 0.03   
  

 

 

    

 

 

 

Diluted

   ($ 0.01    $ 0.03   
  

 

 

    

 

 

 

For the three months ended February 29, 2016, the Company excluded the effect 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. For the three months ended February 28, 2015, the Company excluded the effect of 271,000 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.