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

3 Months Ended

Feb. 28, 2015

Notes to Financial Statements

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 February 28, 2015 and February 28, 2014:

	For the three months ended
	February 28, 2015		February 28, 2014
Basic:
Numerator: net income	$	168,195	$	(258,312	)
Denominator: average number of common shares outstanding		4,050,507		4,046,552
Basic earnings per common share	$	0.04	$	(0.06	)
Diluted:
Numerator: net income	$	168,195	$	(258,312	)
Average number of common shares outstanding		4,050,507		4,046,552
Effect of dilutive stock options		1,247		0
Denominator: dilutive average number of common shares outstanding		4,051,754		4,046,552
Diluted earnings per common share	$	0.04	$	(0.06	)