EARNINGS (LOSS) PER SHARE

6 Months Ended

Aug. 31, 2023

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 9 – EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share (“EPS”) is computed by dividing net earnings by the weighted average number of common shares outstanding during the period excluding nonvested restricted stock awards. Diluted EPS includes the dilutive effect of issued unvested restricted stock awards and additional potential common shares issuable under stock warrants, restricted stock and stock options, if applicable. We utilized the treasury stock method in computing the potential common shares issuable under stock warrants, restricted stock and stock options.

The computation of weighted average common and common equivalent shares used in the calculation of basic and diluted EPS is shown below:

	Three Months Ended August 31,					Six Months Ended August 31,
	2023		2022			2023		2022
Earnings (loss):
Net earnings (loss) applicable to common shareholders	$	1,061,700	$	(801,900	)	$	188,900	$	(586,100	)
Weighted average shares:
Weighted average shares outstanding-basic		8,269,771		8,081,807			8,273,910		8,084,117
Issued unvested restricted stock and assumed shares issuable under granted unvested restricted stock awards		-		-			9,311		-
Weighted average shares outstanding-diluted		8,269,771		8,081,807			8,283,221		8,084,117
Earnings (loss) per share:
Basic	$	0.13	$	(0.10	)	$	0.02	$	(0.07	)
Diluted	$	0.13	$	(0.10	)	$	0.02	$	(0.07	)

As shown in the table below, the following shares have not been included in the calculation of diluted earnings (loss) per share as they would be anti-dilutive to the calculation above.

	Three Months Ended August 31,				Six Months Ended August 31,
	2023		2022		2023		2022
Weighted average shares:
Issued unvested restricted stock and assumed shares issuable under granted unvested restricted stock awards		-		264,653		-		331,956