Note 5 - Income (Loss) Per Share

6 Months Ended

Sep. 30, 2015

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 5 – Income (Loss) Per Share

Net income (loss) per share has been computed according to FASB ASC 260, “Earnings per Share,” which requires a dual presentation of basic and diluted income (loss) per share (“EPS”). Basic EPS represents net income (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.

	Three Months Ended		Three Months Ended
	September 30, 2015		September 30, 2014
Basic net income (loss) per share computation:
Net income (loss)	$	199,466	$	(248,195	)
Weighted-average common shares outstanding		3,256,887		3,252,702
Basic net  income (loss) per share	$	0.06	$	(0.08	)
Diluted net income (loss) per share computation
Net income (loss)	$	199,466	$	(248,195	)
Add: Change in fair value of warrants		-		-
Diluted income (loss)		199,466		(248,195	)
Weighted-average common shares outstanding		3,256,887		3,252,702
Incremental shares attributable to the assumed exercise of outstanding stock options and warrants		3,912		-
Total adjusted weighted-average shares		3,260,799		3,252,702
Diluted net income (loss) per share	$	0.06	$	(0.08	)

	Six Months Ended		Six Months Ended
	September 30, 2015		September 30, 2014
Basic net income (loss) per share computation:
Net income (loss)	$	478,532	$	(632,200	)
Weighted-average common shares outstanding		3,256,887		3,252,048
Basic net  income (loss) per share	$	0.15	$	(0.19	)
Diluted net income (loss) per share computation
Net income (loss)	$	478,532	$	(632,200	)
Add: Change in fair value of warrants		-		-
Diluted income (loss)		478,532		(632,200	)
Weighted-average common shares outstanding		3,256,887		3,252,048
Incremental shares attributable to the assumed exercise of outstanding stock options and warrants		5,171		-
Total adjusted weighted-average shares		3,262,058		3,252,048
Diluted net income (loss) per share	$	0.15	$	(0.19	)

The following table summarizes securities that, if exercised, would have an anti-dilutive effect on earnings per share:

	September 30, 2015		September 30, 2014
Stock options		99,500		85,500
Warrants		286,920		297,336
		386,420		382,836