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INCOME (LOSS) PER SHARE
 3 Months Ended
Dec. 31, 2018
Earnings Per Share [Abstract]  
NET INCOME (LOSS) PER SHARE
3.
INCOME (LOSS) PER SHARE
 
We compute 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 stock and the treasury stock method for stock options, respectively. Shares issuable upon exercise of 298 options were not considered in computing diluted income (loss) per share for the three months ended December 31, 2018 because they were anti-dilutive.
 
The following table reconciles our computation of basic net income (loss) per share to diluted income per share:
 
 
 
Three Months Ended

December 31,
 
 
 
2018
 
 
2017
 
Basic net income (loss) per share:
 
 
 
 
 
 
 
 
Net income (loss) applicable to common shareholders
 
$
(85
)
 
$
26
 
Weighted average common shares outstanding
 
 
10,245
 
 
 
8,244
 
Basic net income (loss) per share
 
$
(0.01
)
 
$
0.00
 
Diluted net income (loss) per share:
 
 
 
 
 
 
 
 
Diluted net income (loss) applicable to common shareholders
 
$
(85
)
 
$
26
 
Weighted average common shares outstanding
 
 
10,245
 
 
 
8,244
 
Plus:  Incremental shares from assumed conversions:
 
 
 
 
 
 
 
 
Series A preferred shares
 
 
-
 
 
 
518
 
Dilutive stock options/shares
 
 
-
 
 
 
33
 
Diluted weighted average common shares outstanding
 
 
10,245
 
 
 
8,795
 
Diluted net income (loss) per share
 
$
(0.01
)
 
$
0.00