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BASIC AND DILUTED NET (LOSS) INCOME PER COMMON SHARE (Tables)
 6 Months Ended
Oct. 31, 2016
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
Diluted net income per common share reflects the potential dilution that could occur from common stock issuable through the exercise of stock options and warrants and note conversions.
 
 
 
For the three months ended
 
For the six months ended
 
 
 
October 31,
 
October 31,
 
 
 
2016
 
2015
 
2016
 
2015
 
Numerator:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Loss) income from continuing operations attributable to WPCS common shareholders
 
$
(438,685)
 
$
(2,823,466)
 
$
118,496
 
$
(7,030,226)
 
Income from discontinued operations, basic and diluted
 
 
-
 
 
837,720
 
 
-
 
 
862,476
 
Net (loss) income attributable to WPCS common shareholders, basic and diluted
 
$
(438,685)
 
$
(1,985,746)
 
$
118,496
 
$
(6,167,750)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average shares outstanding - basic
 
 
2,854,230
 
 
2,415,113
 
 
2,777,817
 
 
1,942,681
 
Stock options
 
 
-
 
 
-
 
 
99,783
 
 
-
 
Series H and H-1 convertible preferred stock
 
 
-
 
 
-
 
 
913,200
 
 
-
 
Weighted average shares outstanding - diluted
 
 
2,854,230
 
 
2,415,113
 
 
3,790,800
 
 
1,942,681
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic (loss) income from continuing operations per common share
 
$
(0.15)
 
$
(1.17)
 
$
0.04
 
$
(3.62)
 
Basic income from discontinued operations per common share
 
 
-
 
 
0.35
 
 
-
 
 
0.44
 
Basic (loss) income per common share
 
$
(0.15)
 
$
(0.82)
 
$
0.04
 
$
(3.18)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Diluted (loss) income from continuing operations per common share
 
$
(0.15)
 
$
(1.17)
 
$
0.03
 
$
(3.62)
 
Diluted income from discontinued operations per common share
 
 
-
 
 
0.35
 
 
-
 
 
0.44
 
Diluted (loss) income per common share
 
$
(0.15)
 
$
(0.82)
 
$
0.03
 
$
(3.18)
 
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
The following securities were excluded from the weighted average dilutive common shares outstanding because their inclusion would have been antidilutive.
 
 
 
As of October 31,
 
 
 
2016
 
2015
 
Common stock equivalents:
 
 
 
 
 
 
 
Common stock options
 
 
852,000
 
 
2,724,000
 
Series G and G-1 preferred stock
 
 
-
 
 
76,000
 
Series H and H-1 preferred stock
 
 
913,000
 
 
1,135,000
 
Make-whole on preferred shares
 
 
-
 
 
21,000
 
Common stock purchase warrants
 
 
1,295,000
 
 
1,295,000
 
Totals
 
 
3,060,000
 
 
5,251,000