Note 11 - Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Earnings Per Share [Text Block]

Note

11.

Earnings (loss) per Share

Basic earnings (loss) per share (EPS) were computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted EPS differs from basic EPS due to the assumed conversion of potentially dilutive options that were outstanding during the period. The following is a reconciliation of the numerators and the denominators of the basic and diluted per share computations for net income (loss). Share numbers have been adjusted for the

1

-for-

15

reverse split effective on

July

23,

2015.

	2016			2015
Numerator:
Numerator for basic and diluted earnings per share, net income (loss)  available to common shareholders	$	(1,196,642	)	$	1,016,088
Denominator:
Denominator for basic earnings per share, weighted average shares outstanding		7,838,197			7,389,177
Effect of dilutive securities-stock options and restricted awards		-			4,599,003
Denominator for diluted earnings per share, adjusted weighted average shares and assumed conversion		7,838,197			11,988,180
Basic earnings (loss) per common share	$	(0.15	)	$	0.14
Diluted earnings (loss) per common share and common share equivalent	$	(0.15	)	$	0.08

The awards and options to purchase shares of common stock that were outstanding at

December

31,

2016

and

2015

that were not included in the computation of diluted earnings (loss) per share because the effect would have been anti-dilutive, are as follows:

	Year Ended December 31,
	2016		2015
Anti-dilutive awards and options		3,361,276		-