BASIC AND DILUTED NET (LOSS) INCOME COMMON SHARE

3 Months Ended

Jul. 31, 2017

BASIC AND DILUTED NET (LOSS) INCOME PER COMMON SHARE

NOTE 5 – BASIC AND DILUTED NET (LOSS) INCOME PER COMMON SHARE

Basic and diluted net (loss) income per common share is computed as net (loss) income by the weighted average number of common shares outstanding for the period. 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
	July 31,
	2017		2016
Numerator:

Net (loss) income, basic and diluted	$	(440,078)	$	557,181

Denominator:

Weighted average shares outstanding – basic		3,352,159		2,701,404
Stock options		-		160,524
Series H and H-1 convertible preferred stock		-		1,075,700
Weighted average shares outstanding – diluted		3,352,159		3,937,628

Basic (loss) income per common share	$	(0.13)	$	0.21
Diluted (loss) income per common share	$	(0.13)	$	0.14

The following securities were excluded from the weighted average dilutive common shares outstanding because their inclusion would have been antidilutive.

	As of July 31,
	2017		2016
Common stock equivalents:
Common stock options		3,253,000		865,000
Series H, H-1, H-2 and H-3 preferred stock		1,462,000		-
Common stock purchase warrants		2,893,000		1,295,000
Totals		7,608,000		2,160,000