Quarterly report pursuant to Section 13 or 15(d)

Income (Loss) Per Share

v3.7.0.1
Income (Loss) Per Share
3 Months Ended
Feb. 28, 2017
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, 2017
 
February 29, 2016
Net income available for common shareholders
$
186,752

 
$
203,369

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

 
7,006,684

Net effect of dilutive stock options

 
41,081

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

 
7,047,765

 
 
 
 
Earnings per Share:
 
 
 
    Basic
 
 
 
Continuing Operations
$
0.03

 
$
0.03

Discontinued Operations
$

 
$

Income
$
0.03

 
$
0.03

 
 
 
 
    Diluted
 
 
 
Continuing Operations
$
0.03

 
$
0.03

Discontinued Operations
$

 
$

Income
$
0.03

 
$
0.03


For the three months ended February 28, 2017 and February 29, 2016, there were 550,000 and 404,000 shares, respectively, underlying previously issued stock options, and 1,892,744 and 0 of shares underlying warrants, respectively, that were excluded from the calculation of diluted loss per share because the effects of such shares were anti-dilutive.