EARNINGS PER SHARE (EPS)

3 Months Ended

Jun. 30, 2011

EARNINGS PER SHARE (EPS)

EARNINGS PER SHARE (EPS)

NOTE 14 - 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 for the periods ended June 30:

Basic EPS	2011		2010
Net income	$	381,461	$	819,322
Basic weighted average shares		15,473,293		14,230,846
Basic income per share	$	0.02	$	0.06
Diluted EPS
Net income	$	381,461	$	819,322
Dilutive effect of stock options, warrants and convertible preferred stock		8,680,693		6,528,675
Diluted weighted average shares		24,153,986		20,759,521
Diluted income per share	$	0.01	$	0.04

For the three months ended June 30, 2011 and 2010 there were 622,000 and 460,000 shares, respectively, of potentially anti-dilutive stock options, warrants and convertible preferred stock, none of which were included in the EPS calculations above.