Note 4 - Net Loss per Share

6 Months Ended

Jun. 30, 2015

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 4. Net

Loss

per Share

Basic net loss per share is computed by dividing net loss by the weighted average number of common shares outstanding during the periods presented, which was 3,803,331 for each period.

Diluted net loss per share is computed by dividing net loss by the weighted average number of common shares outstanding plus any weighted common equivalent shares determined to be outstanding during the period using the treasury method. The weighted common equivalent shares included in the calculation are related to stock options granted by Avalon where the weighted average market price of Avalon’s common stock for the period presented is greater than the option exercise price of the stock option. For the three and six month periods ended June 30, 2015 and 2014, the diluted per share amount is equal to the basic per share amount because Avalon was in a net loss position and as a result, such dilution would be considered anti-dilutive. However, assuming dilution, the diluted weighted average number of common shares outstanding for the three and six months ended June 30, 2015 was 3,890,065 and 3,893,413, respectively. For the three and six months ended June 30, 2014, the diluted weighted average number of common shares outstanding was 4,119,961 and 4,159,972, respectively, assuming dilution.