EARNINGS PER SHARE

9 Months Ended

Dec. 31, 2020

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE 6 - EARNINGS PER SHARE

Basic earnings per share is computed by dividing reported earnings available to stockholders by the weighted average number of shares outstanding. Diluted earnings per share includes the effect of 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.

	Three months ended		Three months ended		Nine months ended		Nine months ended
	December 31, 2020		December 31, 2019		December 31, 2020		December 31, 2019
Basic EPS:
Net (loss) income	$	(48,172)	$	(319,770)	$	106,358	$	(390,014)
Weighted average shares		29,498,662		29,254,594		29,430,206		29,254,230
Basic (loss) income per share	$	(0.00)	$	(0.01)	$	0.00	$	(0.01)
Diluted EPS:
Net (loss) income	$	(48,172)	$	(319,770)	$	106,358	$	(390,014)
Dilutive effect of stock options		—		—		1,591,178		—
Diluted weighted average shares		29,498,662		29,254,594		31,021,384		29,254,230
Diluted (loss) income per share	$	(0.00)	$	(0.01)	$	0.00	$	(0.01)

All potential common stock 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 earnings per share. For the three months ended December 31, 2020 there were 2,814,000 of potentially anti-dilutive stock options, none of which were included in the EPS calculations above. For the nine months ended December 31, 2020, there were 94,000 of common stock equivalents that were out-of-the-money and not included in the above earnings per share calculations. For the three and nine months ended December 31, 2019, there were 2,967,000 of potentially anti-dilutive stock options, none of which were included in the EPS calculations above.