Quarterly report pursuant to Section 13 or 15(d)

(Loss) Income Per Common Share

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(Loss) Income Per Common Share
 3 Months Ended
Feb. 29, 2012
(Loss) Income Per Common Share [Abstract]  
(Loss) Income Per Common Share

Note 2 – (Loss) Income per Common Share

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

 

     For the three months ended
February 29, 2012		     For the three months ended
February 28, 2011		  

Numerator:

     

Net (Loss) Income

    ($ 1,682,063 )    $ 233,419   

Denominator:

     

Weighted-average shares outstanding-basic

      11,488,980        11,752,574   

Dilutive common shares issuable upon exercise of stock options

      —          205,889   

Weighted-average shares-diluted

      11,488,980        11,958,463   
  

 

 

    

 

 

  

(Loss) Earnings per share:

     

Basic

    ($ .15 )    $ .02   
  

 

 

    

 

 

  

Diluted

    ($ .15 )    $ .02   
  

 

 

    

 

 

  

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. For the three months ended February 28, 2011, the Company excluded the effect of 212,387 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.