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

6 Months Ended

May. 31, 2015

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, 2015 and May 31, 2014:

	For the three months ended
	May 31, 2015		May 31, 2014
Basic:
Numerator: net income	$	231,621	$	253,155
Denominator: average number of common shares outstanding		4,060,775		4,047,487
Basic earnings per common share	$	0.06	$	0.06

Diluted:
Numerator: net income	$	231,621	$	253,155
Average number of common shares outstanding		4,060,775		4,047,487
Effect of dilutive stock options		1,519		6,260
Denominator: dilutive average number of common shares outstanding		4,062,294		4,053,747
Diluted earnings per common share	$	0.06	$	0.06

	For the six months ended
	May 31, 2015		May 31, 2014
Basic:
Numerator: net income	$	399,816	$	(5,159	)
Denominator: average number of common shares outstanding		4,055,698		4,047,025
Basic earnings per common share	$	0.10	$	(0.00	)
Diluted:
Numerator: net income	$	399,816	$	(5,159	)
Average number of common shares outstanding		4,055,698		4,047,025
Effect of dilutive stock options		1,375		0
Denominator: dilutive average number of common shares outstanding		4,057,073		4,047,025
Diluted earnings per common share	$	0.10	$	(0.00	)