| EARNINGS (LOSS) PER SHARE |
EARNINGS (LOSS) PER SHARE Basic earnings (loss) 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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For the Year Ended November 30, |
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2016 |
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2015 |
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2014 |
Net income (loss) from continued operations available for common shareholders |
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$ |
1,192,684 |
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$ |
(3,256,632 |
) |
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$ |
(2,803,428 |
) |
Net (loss) income from discontinued operations available for common shareholders |
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$ |
(11,474 |
) |
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$ |
12,421 |
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$ |
(5,996,041 |
) |
Weighted average common shares outstanding-Basic |
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7,006,684 |
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7,006,684 |
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7,006,684 |
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Net effect of dilutive stock options and warrant |
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15,080 |
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— |
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— |
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Weighted average common shares and common shares equivalents—Diluted |
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7,021,764 |
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7,006,684 |
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7,006,684 |
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Earnings (Loss) per Share: |
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Basic |
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Continuing Operations |
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$ |
0.17 |
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$ |
(0.46 |
) |
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$ |
(0.40 |
) |
Discontinued Operations |
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$ |
— |
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$ |
— |
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$ |
(0.86 |
) |
Total earnings (loss) per share |
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$ |
0.17 |
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$ |
(0.46 |
) |
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$ |
(1.26 |
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Diluted |
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Continuing Operations |
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$ |
0.17 |
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$ |
(0.46 |
) |
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$ |
(0.40 |
) |
Discontinued Operations |
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$ |
— |
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$ |
— |
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$ |
(0.86 |
) |
Total earnings (loss) per share |
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$ |
0.17 |
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$ |
(0.46 |
) |
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$ |
(1.26 |
) |
264,000 shares underlying stock options were excluded for the year ended November 30, 2016, 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.
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