EARNINGS PER SHARE (EPS)

9 Months Ended

Dec. 31, 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 December 31, 2014			Three Months ended December 31, 2013			Nine Months ended December 31, 2014			Nine Months ended December 31, 2013
Basic and Diluted EPS
Net Loss	$	(945,718	)	$	(757,680	)	$	(2,865,557	)	$	(3,000,255	)
Basic weighted average number of shares outstanding		24,669,958			20,269,795			24,447,736			20,061,558
Dilutive effect of stock options, warrants and preferred stock		--			--			--			--
Diluted weighted average shares		24,669,958			20,269,795			24,447,736			20,061,558
Basic and Diluted loss per share	$	(0.04	)	$	(0.04	)	$	(0.12	)	$	(0.15	)

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, 2014, there were 3,288,008 and 2,277,951 shares, respectively, and for the three and nine months ended December 31, 2013 there were 5,029,112 and 5,201,532 shares, respectively, of potentially anti-dilutive stock options, warrants and convertible preferred stock, none of which were included in the EPS calculations above.