2. INCOME (LOSS) PER SHARE

9 Months Ended

Nov. 30, 2015

Accounting Policies [Abstract]

BASIC INCOME (LOSS) PER SHARE

NOTE 2:     INCOME (LOSS) PER SHARE

Basic income (loss) per common share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during each period presented.  Diluted income (loss) per share is determined using the weighted average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents.  In periods when losses are reported, the weighted average number of common shares outstanding excludes common stock equivalents because their inclusion would be anti-dilutive.  The dilutive effect of outstanding stock options and warrants is reflected in diluted earnings per share by application of the treasury stock method.

The denominator for diluted income (loss) per share for the three and nine month periods ended November 30, 2014 did not include warrants as they would have been anti-dilutive.

	For the nine months ended
	November 30,
	2015		2014
Numerator:
Net income (loss) available to common shareholders	$	1,358,537	$	(688,354	)
Weighted average shares – basic		26,139,612		25,898,446
Net income (loss) per share – basic	$	0.05	$	(0.03	)
Dilutive effect of common stock equivalents:
Warrants		2,640,106		-
Weighted average shares – diluted		28,779,718		25,898,446
Net income (loss) per share – diluted	$	0.05	$	(0.03	)

	For the three months ended
	November 30,
	2015		2014
Numerator:
Net income (loss) available to common shareholders	$	370,962	$	(283,038	)
Weighted average shares – basic		26,372,003		25,913,206
Net income (loss) per share – basic	$	0.01	$	(0.01	)
Dilutive effect of common stock equivalents:
Warrants		3,258,701		-
Weighted average shares – diluted		29,630,704		25,913,206
Net income  (loss) per share – diluted	$	0.01	$	(0.01	)