EARNINGS PER SHARE (EPS)

12 Months Ended

Mar. 31, 2015

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 convertible preferred stock, warrants, and stock options that would be dilutive. 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.

	March 31, 2015			March 31, 2014
Basic EPS
Net Loss	$	(3,584,181	)	$	(7,095,391	)
Weighted average shares		24,120,402			20,766,914
Basic Loss per share	$	(0.15	)	$	(0.34	)
Diluted EPS
Net Loss	$	(3,584,181	)	$	(7,095,391	)
Dilutive effect of convertible preferred stock, warrants and stock options		--			--
Diluted weighted average shares		24,120,402			20,766,914
Diluted Loss per share	$	(0.15	)	$	(0.34	)

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 years ended March 31, 2015 and 2014, there were 2,112,988 and 4,801,246, respectively, of potentially anti-dilutive stock options, warrants and convertible preferred stock, respectively, none of which were included in the EPS calculations above.