Earnings Per Common Share (EPS)

3 Months Ended

Mar. 31, 2017

Earnings Per Common Share (EPS)

Earnings Per Common Share (EPS)

4.Earnings Per Common Share (EPS)

Basic EPS is calculated using net loss divided by the weighted average of common shares outstanding.  Diluted EPS is calculated similarly to Basic EPS except that the weighted average number of common shares outstanding is increased to include the number of additional common shares that would have been outstanding if the potential dilutive common shares, such as those shares subject to options, had been issued.  The options disclosed in Note 5 have been excluded from the computation because of their antidilutive effect. 

Shares used in the calculation of diluted EPS are summarized below:

	Three Months Ended
	Mar 31, 2017	Mar 31, 2016
Weighted average common shares outstanding	2,018,753	2,018,335
Dilutive effect of stock options	—	—
Weighted average common and common equivalent shares outstanding	2,018,753	2,018,335