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2. BASIC INCOME (LOSS) PER SHARE

9 Months Ended

Nov. 30, 2018

NOTE 2: BASIC INCOME (LOSS) PER SHARE

Basic income per common share is computed by dividing net income by the weighted average number of common shares outstanding during each period presented. Diluted income 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, assuming conversion, exercise, or issuance of all potential common stock equivalents unless the effect is to reduce a loss or increase the income per share. If the inclusion of common stock equivalents in the weighted average number of common shares outstanding would be anti-dilutive these items would be omitted from the calculation of net income per common share. 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 November 30, 2018 and 2017, respectively, did not include 6,407,221 warrants as they would have been anti-dilutive.

	For the nine months ended
	November 30,
	2018			2017

Net (loss) income available to common shareholders	$	(163,087	)	$	491,995
Weighted average common shares – basic		26,574,313			26,574,313
Net (loss) income per share – basic	$	(0.01	)	$	0.02

Dilutive effect of common stock equivalents:
Warrants		-			-
Weighted average common shares – diluted		26,574,313			26,574,313
Net (loss) income per share – diluted	$	(0.01	)	$	0.02

	For the three months ended
	November 30,
	2018			2017

Net (loss) income available to common shareholders	$	(126,258	)	$	246,618
Weighted average common shares – basic		26,574,313			26,574,313
Net (loss) income per share – basic	$	0.00		$	0.01

Dilutive effect of common stock equivalents:
Warrants		-			-
Weighted average common shares – diluted		26,574,313			26,574,313
Net (loss) income per share – diluted	$	0.00		$	0.01