| (LOSS) INCOME PER SHARE |
(LOSS) INCOME PER SHARE Basic (loss) earnings per share is calculated using the average number of common shares outstanding. Diluted (loss) earnings per share is computed on the basis of the average number of common shares outstanding plus the effect of outstanding stock options using the “treasury stock method”.
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Three Months Ended |
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February 28, 2018 |
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February 28, 2017 |
Net (loss) income available for common shareholders |
$ |
(3,220,659 |
) |
|
$ |
186,752 |
|
Weighted average common shares outstanding-Basic |
7,126,684 |
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|
7,006,684 |
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Net effect of dilutive stock options |
— |
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— |
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Weighted average common shares and common shares equivalents—Diluted |
7,126,684 |
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7,006,684 |
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(Loss) Earnings per Share: |
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Basic |
$ |
(0.45 |
) |
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$ |
0.03 |
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Diluted |
$ |
(0.45 |
) |
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$ |
0.03 |
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For the three months ended February 28, 2018 and February 28, 2017, there were 796,500 and 550,000 shares, respectively, underlying previously issued stock options, and 1,442,744 and 1,892,744 of shares underlying warrants, respectively, that were excluded from the calculation of diluted (loss) income per share because the effects of such shares were anti-dilutive.
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