Quarterly report pursuant to Section 13 or 15(d)

NOTE 3 - NET INCOME PER COMMON SHARE

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NOTE 3 - NET INCOME PER COMMON SHARE
9 Months Ended
Sep. 30, 2015
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
NOTE 3 – NET INCOME PER COMMON SHARE

The Company’s basic income per common share is based on net income for the relevant period, divided by the weighted average number of common shares outstanding during the period.  Diluted income per common share is based on net income, divided by the weighted average number of common shares outstanding during the period, including common share equivalents, such as outstanding option and warrants to the extent they are dilutive. The computation of diluted income per share for the three and nine months ended September 30, 2015 does not include share equivalents as all warrants and options exceeded the average market price of the common stock.

   
Three Months Ended
   
Three Months Ended
 
   
September 30, 2015
   
September 30, 2014
 
Basic net income per share computation:
           
Net income
 
$
16,464
   
$
248,165
 
Weighted-average common shares outstanding
   
4,407,231
     
3,945,925
 
Basic net income per share
 
$
0.00
   
$
0.06
 
Diluted net income per share computation:
               
Net income
 
$
16,464
   
$
248,165
 
Weighted-average common shares outstanding
   
4,407,231
     
3,945,925
 
Incremental shares attributable to the common stock equivalents
   
-
     
1,451
 
Total adjusted weighted-average shares
   
4,407,231
     
3,947,376
 
Diluted net income per share
 
$
0.00
   
$
0.06
 

   
Nine Months Ended
   
Nine Months Ended
 
   
September 30, 2015
   
September 30, 2014
 
Basic net income per share computation:
           
Net income
 
$
582,232
   
$
428,796
 
Weighted-average common shares outstanding
   
4,265,065
     
3,938,618
 
Basic net income per share
 
$
0.14
   
$
0.11
 
Diluted net income per share
               
Net income
 
$
582,232
   
$
428,796
 
Weighted-average common shares outstanding
   
4,265,065
     
3,938,618
 
Incremental shares attributable to the common stock equivalents
   
-
     
1,024
 
Total adjusted weighted-average shares
   
4,265,065
     
3,939,642
 
Diluted net income per share
 
$
0.14
   
$
0.11
 

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

   
Nine Months
September 30, 2015
   
Nine Months
September 30, 2014
 
Stock options
   
162,409
     
169,116
 
Warrants
   
203,253
     
16,667
 
                 
Total potential dilutive securities not included in income per share
   
365,662
     
185,783
 

   
Three Months
September 30, 2015
   
Three Months
September 30, 2014
 
Stock options
   
162,409
     
169,116
 
Warrants
   
203,253
     
16,667
 
                 
Total potential dilutive securities not included in income per share
   
365,662
     
185,783