Note 5 - Loss Per Share

3 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 5 – Loss Per Share

Net loss per share has been computed according to FASB ASC 260, “Earnings per Share,” which requires a dual presentation of basic and diluted loss per share (“EPS”). Basic EPS represents net loss divided by the weighted average number of common shares outstanding during a reporting period. Diluted EPS reflects the potential dilution that could occur if securities, including warrants and options, were converted into common stock. The dilutive effect of outstanding warrants and options is reflected in earnings per share by use of the treasury stock method. In applying the treasury stock method for stock-based compensation arrangements, the assumed proceeds are computed as the sum of the amount the employee must pay upon exercise and the amounts of average unrecognized compensation costs attributed to future services.

Diluted loss per share for the three months ended June 30, 2014 and 2013 does not include common stock equivalents, as these stock equivalents would be anti-dilutive.

	Three Months Ended			Three Months Ended
	June 30, 2014			June 30, 2013
Basic net loss per share computation:
Net loss	$	(384,005	)	$	(85,772	)
Weighted-average common shares outstanding		3,251,387			3,079,871
Basic net loss per share	$	(0.12	)	$	(0.03	)
Diluted net loss  per share computation:
Net loss	$	(384,005	)	$	(85,772	)
Weighted-average common shares outstanding		3,251,387			3,079,871
Incremental shares attributable to the assumed exercise of outstanding stock options		-			-
Total adjusted weighted-average shares		3,251,387			3,079,871
Diluted net loss per share	$	(0.12	)	$	(0.03	)

For the three months ended June 30, 2014 and 2013, all outstanding warrants and options were excluded from the computation of diluted loss per share because their effect would be anti-dilutive.