Quarterly report pursuant to Section 13 or 15(d)

Income per Common Share

v3.22.1
Income per Common Share
 3 Months Ended
Feb. 28, 2022
Earnings Per Share [Abstract]  
Income per Common Share

Note 6 – Income per Common Share

The following table sets forth the calculation of basic and diluted net income per common share:

 

 

 

For the three months ended

 

 

 

February 28, 2022

 

 

February 28, 2021

 

Numerator:

 

 

 

 

 

 

Net income

 

$

832,047

 

 

$

693,590

 

Denominator:

 

 

 

 

 

 

Weighted-average shares outstanding-basic

 

 

8,527,031

 

 

 

7,570,913

 

Dilutive common shares issuable upon exercise of
   stock options

 

 

221,152

 

 

 

627,678

 

Weighted-average shares-diluted

 

 

8,748,183

 

 

 

8,198,591

 

Income per share:

 

 

 

 

 

 

Basic

 

$

0.10

 

 

$

0.09

 

Diluted

 

$

0.10

 

 

$

0.08

 

 

 

For the three months ended February 28, 2022, the Company excluded the effect of 11,484 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 28, 2021, the Company excluded the effect of 39,000 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.