EARNINGS PER SHARE (EPS)

6 Months Ended

Sep. 30, 2014

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 ended September 30, 2014			Three Months ended September 30, 2013			Six Months ended September 30, 2014			Six Months ended September 30, 2013
Basic EPS
Net Loss	$	(648,770	)	$	(818,670	)	$	(1,919,839	)	$	(2,242,575	)
Weighted average number of shares outstanding	24,669,958			19,956,871			24,336,018			19,956,871
Basic loss per share	$	(0.03	)	$	(0.04	)	$	(0.08	)	$	(0.11	)
Diluted EPS
Net Loss	$	(648,770	)	$	(818,670	)	$	(1,919,839	)	$	(2,242,575	)
Dilutive effect of stock options, warrants and preferred stock	—			—			—			—
Diluted weighted average shares	24,669,958			19,956,871			24,336,018			19,956,871
Diluted loss per share	$	(0.03	)	$	(0.04	)	$	(0.08	)	$	(0.11	)

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, 2014, there were 2,105,467 and 2,491,658 shares, respectively, and for the three and six months ended September 30, 2013 there were 5,011,341 and 5,359,626 shares, respectively, of potentially anti-dilutive stock options, warrants and convertible preferred stock, none of which were included in the EPS calculations above.