EARNINGS PER SHARE (EPS)

6 Months Ended

Sep. 30, 2012

EARNINGS PER SHARE (EPS)

EARNINGS PER SHARE (EPS)

NOTE 17 - EARNINGS PER SHARE (EPS)

Basic EPS is computed by dividing reported earnings available to stockholders by the weighted average shares outstanding. Diluted EPS also includes the effect of dilutive potential common shares. The following table provides a reconciliation of the numerators and denominators reflected in the basic and diluted earnings per share computations, as required under FASB ASC 260.

Three and Six Months ended September 30,	2012			2011			2012			2011
Basic EPS
Net (loss) income	$	(45,020	)	$	(88,098	)	$	(751,289	)	$	293,363
Weighted average number of shares outstanding	18,696,846			16,546,279			18,614,112			16,049,144
Basic income (loss) per share	$	(0.00	)	$	(0.01	)	$	(0.04	)	$	0.02
Diluted EPS
Net income (loss)	$	(45,020	)	$	(88,098	)	$	(751,289	)	$	293,363
Dilutive effect of stock options, warrants and preferred stock	—			—			—			8,094,812
Diluted weighted average shares	18,696,846			16,546,279			18,614,112			24,143,956
Diluted income (loss) per share	$	(0.00	)	$	(0.01	)	$	(0.04	)	$	0.01

All potential common share equivalents that have an anti-dilutive effect (i.e. those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. For the three and six month periods ended September 30, 2012 and 2011, there were 5,808,674 and 6,907,806 shares, and 8,457,830 and 762,000 shares, respectively, of potentially anti-dilutive stock options, warrants and convertible preferred stock, none of which were included in the EPS calculations above.