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INCOME (LOSS) PER SHARE
3 Months Ended
Dec. 31, 2020
INCOME (LOSS) PER SHARE  
INCOME (LOSS) PER SHARE

3.    INCOME (LOSS) PER SHARE

The Company computes basic income (loss) per share using the weighted average number of common shares outstanding.  The Company has two categories of dilutive potential common shares: Series A preferred shares issued in May 2011 in connection with our registered direct offering and shares issuable upon exercise of options.  We compute diluted earnings per share using the if-converted method for preferred shares and the treasury stock method for stock options, respectively. Shares issuable upon exercise of 704 options and 12 common shares issuable upon conversion of preferred shares were not considered in computing diluted income (loss) per share for the three months ended December 31, 2020 because they were anti-dilutive. Shares issuable upon exercise of 785 options and 17 common shares issuable upon conversion of preferred shares were not considered in computing diluted income (loss) per share for the three months ended December 31, 2019, because they were anti-dilutive.

Computation of basic net loss per share is shown in the following table:

 

 

 

 

 

 

 

 

 

    

Three Months Ended

 

 

December 31,

 

    

2020

    

2019

Basic net loss per share:

 

 

  

 

 

  

Net loss applicable to common shareholders

 

$

(366)

 

$

(1,426)

Weighted average common shares outstanding

 

 

11,016

 

 

10,669

Basic net loss per share

 

$

(0.03)

 

$

(0.13)