Quarterly report pursuant to Section 13 or 15(d)

Income per Common Share

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Income per Common Share
 3 Months Ended
Feb. 29, 2024
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:

 

 

 

 

February 29, 2024

 

 

February 28, 2023

 

Numerator:

 

 

 

 

 

 

 

Net income

 

 

$

556,241

 

 

$

766,812

 

Denominator:

 

 

 

 

 

 

 

Weighted-average shares outstanding-basic

 

 

 

8,277,844

 

 

 

8,467,074

 

Dilutive common shares issuable upon exercise of
   stock options

 

 

 

47,183

 

 

 

7,663

 

Weighted-average shares-diluted

 

 

 

8,325,027

 

 

 

8,474,737

 

Income per share:

 

 

 

 

 

 

 

Basic

 

 

$

0.07

 

 

$

0.09

 

Diluted

 

 

$

0.07

 

 

$

0.09

 

 

For the three months ended February 29, 2024, the Company excluded the effect of 758,678 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, 2023, the Company excluded the effect of 887,314 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.