Annual report pursuant to Section 13 and 15(d)

(Loss) Earnings Per Share

v2.4.1.9
(Loss) Earnings Per Share
 12 Months Ended
Nov. 30, 2014
Earnings Per Share [Abstract]  
(LOSS) EARNINGS PER SHARE
(LOSS) EARNINGS 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”.

 
 
For the Year Ended November 30,
 
 
2014
 
2013
 
2012
Net (loss) from continued operations available for common shareholders
 
$
(2,803,428
)
 
$
(3,511,282
)
 
$
(3,065,470
)
Net (loss) income from discontinued operations available for common shareholders
 
$
(5,996,041
)
 
$
(2,681,966
)
 
$
3,530,922

Weighted average common shares outstanding-Basic
 
$
7,006,684

 
$
7,037,694

 
$
7,054,442

Net effect of dilutive stock options
 
—

 
—

 
—

Weighted average common shares and common shares equivalents—Diluted
 
7,006,684

 
7,037,694

 
7,054,442

 
 
 
 
 
 
 
Loss Earning per Share:
 
 
 
 
 
 
    Basic
 
 
 
 
 
 
Continuing Operations
 
$
(0.40
)
 
$
(0.50
)
 
$
(0.43
)
Discontinued Operations
 
$
(0.86
)
 
$
(0.38
)
 
$
0.50

Total (loss) earnings per share
 
$
(1.26
)
 
$
(0.88
)
 
$
0.07

 
 
 
 
 
 
 
    Diluted
 
 
 
 
 
 
Continuing Operations
 
$
(0.40
)
 
$
(0.50
)
 
$
(0.43
)
Discontinued Operations
 
$
(0.86
)
 
$
(0.38
)
 
$
0.50

Total (loss) earnings per share
 
$
(1.26
)
 
$
(0.88
)
 
$
0.07



1,892,744 of shares underlying outstanding warrant and 137,000 shares underlying stock options were excluded from the diluted loss per share because the effects of such shares were anti-dilutive. No such share equivalents existed in 2013 or 2012.