Note 3 - Net Income (Loss) Per Share of Common Stock

6 Months Ended

May 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

3) Net Income (Loss) Per Share of Common Stock

Basic net income (loss) per common share has been computed on the basis of the weighted average number of common shares outstanding. Diluted net income (loss) per share has been computed on the basis of the weighted average number of common shares outstanding plus equivalent shares assuming exercise of stock options. Potential shares of common stock that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS.

Basic and diluted earnings (loss) per common share have been computed based on the following as of May 31, 2014 and May 31, 2013:

	For the three months ended
	May 31, 2014		May 31, 2013
Basic:
Numerator: net income	$	253,155	$	514,240
Denominator: average number of common shares outstanding		4,047,487		4,037,552
Basic earnings per common share	$	0.06	$	0.13
Diluted:
Numerator: net income	$	253,155	$	514,240
Average number of common shares outstanding		4,047,487		4,037,552
Effect of dilutive stock options		6,260		14,140
Denominator: dilutive average number of common shares outstanding		4,053,747		4,051,692
Diluted earnings per common share	$	0.06	$	0.13

	For the six months Ended
	May 31, 2014			May 31, 2013
Basic:
Numerator: net income (loss)	$	(5,159	)	$	1,333,500
Denominator: average number of common shares outstanding		4,047,025			4,036,302
Basic earnings (loss) per common share	$	(0.00	)	$	0.33
Diluted:
Numerator: net income (loss)	$	(5,159	)	$	1,333,500
Average number of common shares outstanding		4,047,025			4,036,302
Effect of dilutive stock options		0			13,178
Denominator: dilutive average number of common shares outstanding		4,047,025			4,049,480
Diluted earnings (loss) per common share	$	(0.00	)	$	0.33