Earnings (Loss) Per Common Share

6 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 7 – Earnings (Loss) Per Common Share

Basic earnings (loss) per common share is computed by dividing the net income applicable or loss attributable to common shares by the weighted average number of common shares. Diluted earnings per common share adjusts basic earnings per share for the effects of common stock options, common stock warrants, convertible preferred stock and other potential dilutive common shares outstanding during the periods.

For purposes of computing diluted earnings per share for the three and six months ended March 31, 2014 and 2013, no common stock options were included in the calculation of dilutive shares as all of the 630,532 and 710,532 common stock options outstanding, respectively, had exercise prices above the current quarterly average market price per share and their inclusion is anti-dilutive. Additionally, for the three and six months ended March 31, 2013, no common share equivalents related to stock options or unvested restricted stock were included in the calculation of dilutive shares, since there was a loss from continuing operations and the inclusion of common share equivalents would have been anti-dilutive.

The computation of the weighted shares outstanding for the three months ended March 31 is as follows:

	March 31, 2014		March 31, 2013
Weighted average shares outstanding
Basic		15,102,023		14,770,943
Effect of dilutive securities
Stock Options		-		-
Restricted Stock		183,209		-
Dilutive Average Shares Outstanding		15,285,232		14,770,943

The computation of the weighted shares outstanding for the six months ended March 31 is as follows:

	March 31, 2014		March 31, 2013
Weighted average shares outstanding
Basic		15,061,890		14,721,733
Effect of dilutive securities
Stock Options		-		-
Restricted Stock		155,025		-
Dilutive Average Shares Outstanding		15,216,915		14,721,733