EARNINGS PER SHARE (EPS)

9 Months Ended

Dec. 31, 2013

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 loss per share computations, as required under FASB ASC 260.

	Three Months endedDecember 31, 2013			Three Months endedDecember 31, 2012			Nine Months endedDecember 31, 2013			Nine Months endedDecember 31, 2012
Basic EPS
Net Loss	$	(757,680	)	$	(545,487	)	$	(3,000,255	)	$	(1,296,776	)
Weighted average number of shares outstanding	20,269,795			19,089,289			20,061,558			18,773,080
Basic and diluted loss per share	$	(0.04	)	$	(0.03	)	$	(0.15	)	$	(0.07	)
Diluted EPS
Net Loss	$	(757,680	)	$	(545,487	)	$	(3,000,255	)	$	(1,296,776	)
Dilutive effect of stock options, warrants and preferred stock	—			—			—			—
Diluted weighted average shares	20,269,795			19,089,289			20,061,558			18,773,080
Diluted loss per share	$	(0.04	)	$	(0.03	)	$	(0.15	)	$	(0.07	)

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 nine month periods ended December 31, 2013, there were 5,029,112 and 5,201,532 shares, respectively, and for the three and nine months ended December 31, 2012 there were 5,053,475 and 4,325,006 shares, respectively, of potentially anti-dilutive stock options, warrants and convertible preferred stock, none of which were included in the EPS calculations above.