Note 5 Income (Loss) Per Share

9 Months Ended

Dec. 31, 2011

Earnings Per Share [Text Block]

Note 5 – Income (Loss) Per Share

Financial Accounting Standards Board (“FASB”) ASC 260 requires presentation of basic earnings per share (“basic EPS”) and diluted earnings per share (“diluted EPS”).

The Company’s basic income (loss) per common share is based on net income (loss) for the relevant period, divided by the weighted average number of common shares outstanding during the period.  Diluted income (loss) per common share is based on net income (loss), divided by the weighted average number of common shares outstanding during the period, including common share equivalents, such as outstanding stock options.  Diluted loss per share for the nine months ended December 31, 2010 does not include common stock equivalents, as these stock equivalents would be anti-dilutive.

	Three Months Ended		Three Months Ended
	December 31, 2011		December 31, 2010
Basic net income per share computation:
Net income (loss) attributable to common stockholders	$	97,431	$	29,012
Weighted-average common shares outstanding		2,652,864		2,626,149
Basic net income per share attributable to common stockholders	$	0.04	$	0.01
Diluted net income per share computation
Net income attributable to common stockholders	$	97,431	$	29,012
Weighted-average common shares outstanding		2,652,864		2,626,149
Incremental shares attributable to the assumed exercise of outstanding stock options		53,214		16,598
Total adjusted weighted-average shares		2,706,078		2,642,747
Diluted net income per share attributable to common stockholders	$	0.04	$	0.01

	Nine Months Ended		Nine Months Ended
	December 31, 2011		December 31, 2010
Basic net income (loss) per share computation:
Net income (loss) attributable to common stockholders	$	376,596	$	(334,394	)
Weighted-average common shares outstanding		2,650,032		2,621,417
Basic net income (loss) per share attributable to common stockholders	$	0.14	$	(0.13	)
Diluted net income (loss) per share computation
Net income (loss) attributable to common stockholders	$	$376,596	$	(334,394	)
Weighted-average common shares outstanding		2,650,032		2,621,417
Incremental shares attributable to the assumed exercise of outstanding stock options		68,688		-
Total adjusted weighted-average shares		2,718,720		2,621,417
Diluted net income (loss) per share attributable to common stockholders	$	0.14	$	(0.13	)