Annual report pursuant to Section 13 and 15(d)

NOTE 3 - NET INCOME PER COMMON SHARE

v3.8.0.1
NOTE 3 - NET INCOME PER COMMON SHARE
12 Months Ended
Dec. 31, 2017
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 year ended December 31, 2017 and December 31, 2016 does not include share equivalents as all warrants and options exceeded the average market price of the common stock.

 
 
Year Ended
December 31, 2017
   
Year Ended
December 31, 2016
 
Basic net (loss) income per share:
           
  Net (loss) income
 
$
(486,469
)
 
$
3,436,399
 
  Weighted-average common shares outstanding
   
4,489,013
     
4,414,743
 
  Basic net (loss) income per shares
 
$
(0.11
)
 
$
0.78
 
Diluted net (loss) income per share:
               
  Net (loss) income
 
$
(486,469
)
 
$
3,436,399
 
  Weighted-average common shares outstanding
   
4,489,013
     
4,473,403
 
  Total adjusted weighted-average shares
   
4,489,013
     
4,473,403
 
  Diluted net (loss) income per share
 
$
(0.11
)
 
$
0.77
 

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

 
 
Year Ended
December 31, 2017
 
 
Year Ended
December 31, 2016
 
Stock options
 
 
62,280
 
 
 
143,576
 
Warrants
 
 
208,241
 
 
 
203,253
 
 
 
 
 
 
 
 
 
 
Total potential dilutive securities not included in loss per share
 
 
270,521
 
 
 
346,829