Annual report pursuant to Section 13 and 15(d)

(Loss) Earnings Per Share

v3.3.1.900
(Loss) Earnings Per Share
 12 Months Ended
Nov. 30, 2015
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,
 
 
2015
 
2014
 
2013
Net (loss) from continued operations available for common shareholders
 
$
(3,256,632
)
 
$
(2,803,428
)
 
$
(3,511,282
)
Net income (loss) from discontinued operations available for common shareholders
 
$
12,421

 
$
(5,996,041
)
 
$
(2,681,966
)
Weighted average common shares outstanding-Basic
 
7,006,684

 
7,006,684

 
$
7,037,694

Net effect of dilutive stock options and warrant
 
—

 
—

 
—

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

 
7,006,684

 
7,037,694

 
 
 
 
 
 
 
Loss Earning per Share:
 
 
 
 
 
 
    Basic
 
 
 
 
 
 
Continuing Operations
 
$
(0.46
)
 
$
(0.40
)
 
$
(0.50
)
Discontinued Operations
 
$
—

 
$
(0.86
)
 
$
(0.38
)
Total (loss) earnings per share
 
$
(0.46
)
 
$
(1.26
)
 
$
(0.88
)
 
 
 
 
 
 
 
    Diluted
 
 
 
 
 
 
Continuing Operations
 
$
(0.46
)
 
$
(0.40
)
 
$
(0.50
)
Discontinued Operations
 
$
—

 
$
(0.86
)
 
$
(0.38
)
Total (loss) earnings per share
 
$
(0.46
)
 
$
(1.26
)
 
$
(0.88
)


1,892,744 of shares underlying outstanding warrant and 104,000 shares underlying stock options were excluded for the year ended November 30, 2015 and 1,892,744 of shares underlying outstanding warrant and 137,000 shares underlying stock options were excluded for the year ended November 30, 2014 from the diluted loss per share because the effects of such shares were anti-dilutive. No such share equivalents existed in 2013.