Quarterly report pursuant to Section 13 or 15(d)

Income (Loss) Per Share

v3.5.0.2
Income (Loss) Per Share
9 Months Ended
Aug. 31, 2016
Earnings Per Share [Abstract]  
INCOME (LOSS) PER SHARE INCOME (LOSS) PER SHARE
Basic earnings (loss) per share is calculated using the average number of common shares outstanding. Diluted earnings (loss) 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
 
Nine Months Ended
 
August 31, 2016
 
August 31, 2015
 
August 31, 2016
 
August 31, 2015
Net income (loss) available for common shareholders
$
321,367

 
$
49,889

 
$
948,419

 
$
(1,479,222
)
Weighted average common shares outstanding-Basic
7,006,684

 
7,006,684

 
7,006,684

 
7,006,684

Net effect of dilutive stock options
41,327

 

 
68,209

 

Weighted average common shares and common shares equivalents—Diluted
7,048,011

 
7,006,684

 
7,074,893

 
7,006,684

 
 
 
 
 
 
 
 
Earnings (loss) per Share:
 
 
 
 
 
 
 
    Basic
 
 
 
 
 
 
 
Continuing Operations
$
0.05

 
$
0.02

 
$
0.14

 
$
(0.22
)
Discontinued Operations
$

 
$
(0.02
)
 
$

 
$
0.01

Income
$
0.05

 
$

 
$
0.14

 
$
(0.21
)
 
 
 
 
 
 
 
 
    Diluted
 
 
 
 
 
 
 
Continuing Operations
$
0.05

 
$
0.02

 
$
0.14

 
$
(0.22
)
Discontinued Operations
$

 
$
(0.02
)
 
$

 
$
0.01

Income
$
0.05

 
$

 
$
0.14

 
$
(0.21
)

For the three and nine month periods ending August 31, 2016 and 2015 there were 560,000 and 2,204,744 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.