Quarterly report pursuant to Section 13 or 15(d)

(Loss) Income Per Share

v3.10.0.1
(Loss) Income Per Share
9 Months Ended
Aug. 31, 2018
Earnings Per Share [Abstract]  
(LOSS) INCOME PER SHARE (LOSS) INCOME PER SHARE
Basic earnings per share is calculated using the average number of common shares outstanding. Diluted income per share is computed on the basis of the average number of common shares outstanding plus the effect of outstanding stock options and warrants using the “treasury stock method”.

 
Three Months Ended
 
Nine Months Ended
 
August 31, 2018
 
August 31, 2017
 
August 31, 2018
 
August 31, 2017
Net (loss) income available for common shareholders
$
(203,672
)
 
$
377,683

 
$
(3,716,652
)
 
$
1,262,984

Weighted average common shares outstanding-Basic
7,456,684

 
7,006,684

 
7,348,290

 
7,006,684

Net effect of dilutive stock options and warrants

 
158,343

 

 

Weighted average common shares and common shares equivalents—Diluted
7,456,684

 
7,165,027

 
7,348,290

 
7,006,684

 
 
 
 
 
 
 
 
Earnings per Share:
 
 
 
 
 
 
 
    Basic
 
 
 
 
 
 
 
    (Loss) Earnings per Share
$
(0.03
)
 
$
0.05

 
$
(0.51
)
 
$
0.18

 
 
 
 
 
 
 
 
    Diluted
 
 
 
 
 
 
 
    (Loss) Earnings per Share
$
(0.03
)
 
$
0.05

 
$
(0.51
)
 
$
0.18


For the three months ended August 31, 2018 and August 31, 2017, there were 2,639,244 and 421,500 shares, respectively, underlying previously issued stock options and warrants that were excluded from diluted loss per share because the effects of such shares were anti-dilutive. For the nine months ended August 31, 2018 and August 31, 2017, there were 2,639,244 and 2,689,244 shares, respectively, underlying previously issued stock options and warrants that were excluded from diluted loss per share because the effects of such shares were anti-dilutive.