Loss Per Common Share

9 Months Ended

Dec. 31, 2016

Loss per common share:

Loss Per Common Share

9. Loss Per Common Share

The Company’s basic net loss per share has been computed based on the weighted average number of common shares outstanding during the period. Diluted net loss per share assumes the exercise of all stock options having exercise prices less than the average market price of the common stock during the period using the treasury stock method. In periods where losses are reported, the weighted-average number of common shares outstanding excludes potential common shares, because their inclusion would be anti-dilutive.

The following is a reconciliation of the number of shares used in the calculation of basic net loss per share and diluted loss per share for the three and nine month periods ended December 31, 2016 and 2015:

	Three Months Ended						Nine Months Ended
	December 31						December 31
	2016			2015			2016			2015
Net loss	$	(159,741	)	$	(2,445,536	)	$	(691,099	)	$	(3,546,209	)
Shares outstanding:
Weighted avg. common shares outstanding – basic		2,037,266			2,037,266			2,037,266			2,037,266
Effect of the assumed exercise of dilutive stock options		-			-			-			-
Weighted avg. common shares outstanding – dilutive		2,037,266			2,037,266			2,037,266			2,037,266
Loss per common share:
Basic and diluted	$	(0.08	)	$	(1.20	)	$	(0.34	)	$	(1.74	)

Due to a net loss for the three and nine months ended December 31, 2016 and 2015, the weighted average number of common shares outstanding excludes common stock equivalents because their inclusion would be anti-dilutive.