3. BASIC INCOME (LOSS) PER SHARE

6 Months Ended

Aug. 31, 2017

Earnings Per Share [Abstract]

BASIC INCOME (LOSS) PER SHARE

NOTE 3:    BASIC 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 periods ended August 31, 2017 and 2016, respectively, did not include 6,407,221 warrants as they would have been anti-dilutive.

	For the six months ended
	August 31,
	2017		2016
Numerator:
Net income (loss) available to common shareholders	$	245,384	$	(592,811	)
Weighted average shares – basic		26,574,313		26,610,421
Net income (loss) per share – basic	$	0.01	$	(0.02	)
Dilutive effect of common stock equivalents:
Warrants		-		-
Weighted average shares – diluted		26,574,313		26,610,421
Net income (loss) per share – diluted	$	0.01	$	(0.02	)

	For the three months ended
	August 31,
	2017		2016
Numerator:
Net income (loss) available to common shareholders	$	85,402	$	(148,466	)
Weighted average shares – basic		26,574,313		26,640,313
Net income (loss) per share – basic	$	0.00	$	(0.01	)
Dilutive effect of common stock equivalents:
Warrants		-		-
Weighted average shares – diluted		26,574,313		26,640,313
Net income  (loss) per share – diluted	$	0.00	$	(0.01	)