Quarterly report pursuant to Section 13 or 15(d)

Income (Loss) Per Share

v2.4.1.9
Income (Loss) Per Share
 3 Months Ended
Feb. 28, 2015
Earnings Per Share [Abstract]  
INCOME (LOSS) PER SHARE
INCOME (LOSS) PER SHARE
Basic income (loss) earnings per share is calculated using the average number of common shares outstanding. Diluted income (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”.

 
Three Months Ended
 
February 28, 2015
 
February 28, 2014
Net Income (loss) income available for common shareholders
$
57,608

 
$
(1,239,565
)
Weighted average common shares outstanding-Basic
7,006,684

 
7,006,684

Net effect of dilutive stock options
148,558

 
—

Weighted average common shares and common shares equivalents—Diluted
7,155,242

 
7,006,684

 
 
 
 
Earnings (Loss) per Share:
 
 
 
    Basic
 
 
 
Continuing Operations
$
0.01

 
$
(0.15
)
Discontinued Operations
$
—

 
$
(0.03
)
Income (Loss)
$
0.01

 
$
(0.18
)
 
 
 
 
    Diluted
 
 
 
Continuing Operations
$
0.01

 
$
(0.15
)
Discontinued Operations
$
—

 
$
(0.03
)
Income (Loss)
$
0.01

 
$
(0.18
)


312,000 and 100,000 shares underlying stock options were excluded from the diluted loss per share for the quarters ended February 28, 2015 and 2014, respectively, because the effects of such shares were anti-dilutive.