Note 11 - Earnings Per Common Share

12 Months Ended

Sep. 30, 2016

Notes to Financial Statements

Earnings Per Share [Text Block]

11.

EARNINGS PER COMMON SHARE

The following table sets forth the computation of basic and diluted earnings per share.

	2016		2015			2014
Basic Income (Loss) Per Share
Income (Loss) available to common stockholders	$	4,632,848	$	(122,377	)	$	8,376
Shares denominator		1,943,625		1,638,215			1,638,215
Per share amount	$	2.38	$	(.07	)	$	.01
Effect of Dilutive Securities
Average shares outstanding		1,943,625		1,638,215			1,638,215
Options available under convertible note		-		-			31,097
		1,943,625		1,638,215			1,669,312
Diluted Income (Loss) Per Share
Income (Loss) available to common stockholders	$	4,632,848	$	(122,377	)	$	8,376
Per share amount	$	2.38	$	(.07	)	$	.01

Options and warrants to purchase

5,000

and

100,000

shares of common stock respectively during fiscal

2016

at prices ranging from

$2.50

to

$6.00

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 and warrants to purchase

6,000

and

200,000

shares of common stock respectively during fiscal

2015

at prices ranging from

$2.50

to

$6.00

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 and warrants to purchase

22,000

and

200,000

shares of common stock respectively during fiscal

2014

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.