Net (Loss) / Income Per Share (“EPS”)

9 Months Ended

Apr. 30, 2018

Accounting Policies [Abstract]

Net Income (Loss) Per Share (EPS)

Note 5 - Net Income / Income Per Share (“EPS”):

Basic income per share is calculated by dividing income available to common shareholders by the weighted average number of shares of common stock outstanding during the period. Diluted income per share is calculated by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period and, when dilutive, potential shares from stock options and warrants to purchase common stock, using the treasury stock method. Common stock equivalents are included in the diluted income per share calculation only when option exercise prices are lower than the average market price of the common shares for the period presented.

The weighted average number of common stock equivalents not included in diluted income per share, because the effects are anti-dilutive, was 850 for the three months ended April 30, 2018.

The weighted average number of common stock equivalents not included in diluted income per share, because the effects are anti-dilutive, was 850 for the nine months ended April 30, 2018.

For the three and nine-month periods ended April 30, 2017 all outstanding stock options, non-vested restricted stock, warrants and common stock underlying convertible preferred stock, representing 1,603,125 incremental shares at April 30, 2017, have been excluded from the computation of diluted EPS as they are anti-dilutive.

	Three Months Ended April 30,				Nine Months Ended April 30,
	2018		2017		2018		2017
Weighted average number of common shares outstanding - Basic	$	1,068,100		1,056,343	$	1,068,100		960,054
Potentially dilutive common stock  equivalents		1,524,616		1,603,125		1,524,616		1,603,125
Weighted average number of common and equivalent shares outstanding-Diluted	$	2,592,716		2,659,468	$	2,592,716		2,563,179