Note 7 - Earnings per Common Share

9 Months Ended

Jun. 30, 2011

Earnings Per Share [Text Block]

7. Earnings per Common Share

Earnings per common share information is computed on the weighted average number of shares outstanding during each period based on the provisions of FASB Codification ASC Topic 260, "Earnings per Share." The required reconciliations are as follows:

	Three Months Ended       June 30,						Nine Months Ended    June 30,
	2011			2010			2011			2010
Basic Income (Loss) per Share
Income (Loss) available   to common stockholders	$	(125,949	)	$	(151,479	)	$	(657,612	)	$	(422,312	)
Shares denominator		1,248,095			1,248,095			1,248,095			1,248,095
Per share amount	$	(.10	)	$	(.12	)	$	(.52	)	$	(.34	)
Effect of Dilutive Securities
Average shares outstanding		1,248,095			1,248,095			1,248,095			1,248,095
Stock options		-			-			-			-
		1,248,095			1,248,095			1,248,095			1,248,095
Diluted Income (Loss) per Share
Income (Loss) available   to common stockholders	$	(125,949	)	$	(151,479	)	$	(657,612	)	$	(422,312	)
Per share amount	$	(.10	)	$	(.12	)	$	(.52	)	$	(.34	)

During the third quarter and the nine month period of fiscal 2011 and the third quarter and the nine month period of fiscal 2010, options to purchase 64,850 and 85,500 shares of common stock, respectively, at prices ranging from $2.925 to $11.00 per share were outstanding but were not included in the computation of diluted earnings per share because the option's effect was antidilutive or the exercise price was greater than the average market price of the common shares.