Note 8 - Earnings per Common Share

9 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

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 June 30,						Nine Months Ended June 30,
	2013			2012			2013		2012
Basic Income (Loss) per Share
Income (Loss) available to common stockholders	$	(133,777	)	$	(170,975	)	$	129,458	$	(578,896	)
Shares denominator		1,638,215			1,394,278			1,601,256		1,346,261
Per share amount	$	(.08	)	$	(.12	)	$	.08	$	(.43	)
Effect of Dilutive Securities
Average shares outstanding		1,638,215			1,394,278			1,601,256		1,346,261
Stock options		-			-			18,927		-
		1,638,215			1,394,278			1,620,183		1,346,261
Diluted Income (Loss) per Share
Income (Loss) available to common stockholders	$	(133,777	)	$	(170,675	)	$	129,458	$	(578,896	)
Per share amount	$	(.08	)	$	(.12	)	$	.08	$	(.43	)

Options and warrants to purchase 31,000 and 200,000 shares of common stock respectively during the third quarter and the first nine months of fiscal 2013 at prices ranging from $2.50 to $11.00 per share were outstanding but were not included in the computation of diluted earnings per share because the option's and warrant's effect was antidilutive or the exercise price was greater than the average market price of the common share.

Options to purchase 42,000 shares of common stock during the third quarter and the first nine months 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.