5. PER SHARE INFORMATION

3 Months Ended

Mar. 31, 2017

Table Text Block [Abstract]

Schedule of Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Table Text Block]

5. PER SHARE INFORMATION

Basic earnings per share (“EPS”) is computed by dividing net income applicable to common shareholders by the weighted average number of common shares outstanding during each period. The diluted earnings per share computation includes common share equivalents, when dilutive. There are no adjustments to net income necessary in the calculation of basic and diluted earnings per share.

A reconciliation of the shares used in the basic and diluted income per common share computation for the three months ended March 31, 2017 and 2016 is as follows:

	(Unaudited)
	Three Months Ended
	March 31,
	2017		2016
Weighted average
shares outstanding		7,435,000		7,583,170
Dilutive restricted share units		1,764		-
Dilutive stock options		24		-
Dilutive weighted average
shares outstanding		7,436,788		7,583,170

Weighted average shares that were antidilutive and therefore not included in the calculation of earnings per share were 83,537 and 142,518 for the three months ended March 31, 2017 and 2016, respectively. For the three months ended March 31, 2016, diluted earnings per share of common stock are equal to basic earnings per share of common stock due to the net loss.