Note 8 - Earnings per Common Share

3 Months Ended

Dec. 31, 2011

Earnings Per Share [Text Block]

8. 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 December 31,
	2011		2010
Basic Income (Loss) per Share
Income (Loss) available to common stockholders	$(183,140)		$(317,982)
Shares denominator		1,251,273		1,248,095
Per share amount	$(.15)		$(.25)
Effect of Dilutive Securities
Average shares outstanding		1,251,273		1,248,095
Stock options		-		-
		1,251,273		1,248,095
Diluted Income (Loss) per Share
Income (Loss) available to common stockholders	$(183,140)		$(317,982)
Per share amount	$(.15)		$(.25)

Options to purchase 64,850 shares of common stock during the first quarter of fiscal 2012 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 share.

In addition, conversion rights to purchase 491,304 shares of common stock at a price of $1.85 per share were not included in the computation of diluted earnings per share because the conversion rights of the Convertible Promissory Notes effect was antidilutive.

Options to purchase 71,650 shares of common stock during the first quarter of fiscal 2011 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 share.