For the Fiscal Years Ended

September 30,

2016

2015

Numerator:

Net income (loss)

$

606,562

$

(1,433,981

)

Preferred stock dividends and accretion

–

(475,580

)

Net income (loss) to common equity

$

606,562

$

(1,909,561

)

Denominator:

Weighted average shares outstanding - basic

8,521,188

8,342,168

Effects of dilutive securities:

Assumed exercise of stock options, treasury stock method

28,289

–

Assumed vesting of restricted stock, treasury stock method

126,106

–

Weighted average dilutive potential common shares

154,395

–

Weighted average shares outstanding - diluted

8,675,583

8,342,168

Basic earnings (loss) per share

$

0.07

$

(0.23

)

Diluted earnings (loss) per share

$

0.07

$

(0.23

)