EARNINGS/LOSS PER SHARE

12 Months Ended

Sep. 30, 2021

Earnings/(loss) per share:

EARNINGS/LOSS PER SHARE

NOTE 11        EARNINGS/LOSS PER SHARE

Basic earnings/loss per share data for each period presented is computed using the weighted average number of shares of common stock outstanding during each such period. Diluted loss per share data is computed using the weighted average number of common and dilutive common equivalent shares outstanding during each period. Dilutive common equivalent shares consist of shares that would be issued upon the exercise of stock options and warrants, computed using the treasury stock method.

A reconciliation of basic and diluted earnings/loss per share is as follows: 

	For the Fiscal Years Ended
	September 30,
	2021		2020
Numerator:
Net income/(loss)	$	524,000	$	(1,775,000	)
Denominator:
Weighted average common shares outstanding		9,950,000		9,583,000
Dilutive common share equivalents		493,000		–
Weighted average dilutive shares outstanding		10,443,000		9,583,000
Earnings/(loss) per share:
Basic	$	0.05	$	(0.19	)
Diluted	$	0.05	$	(0.19	)

There were no anti-dilutive securities excluded from the calculation of diluted earnings per share in Fiscal 2021. The following securities were excluded from the calculation of diluted earnings per share in Fiscal 2020 because their inclusion would have been anti-dilutive: 

	Fiscal 2020
Options		1,138,000
Warrants		151,000
Total potentially dilutive shares		1,289,000