NOTE 15 - 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 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 September 30, 2017		Three months ended September 30, 2016		Six months ended September 30, 2017		Six months ended September 30, 2016
Basic EPS
Net Income	$	368,186	$	546,082	$	792,688	$	991,385
Weighted average shares		28,824,593		27,324,593		28,824,593		27,324,593
Basic Income per share	$	0.01	$	0.02	$	0.03	$	0.04
Diluted EPS
Net Income	$	368,186	$	546,082	$	792,688	$	991,385
Dilutive effect of stock options		905,863		696,202		926,626		611,505
Diluted weighted average shares		29,730,456		28,020,795		29,751,219		27,936,098
Diluted Income per share	$	0.01	$	0.02	$	0.03	$	0.04

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 months ended September 30, 2017, there were 596,668 and 496,668, respectively, of potentially anti-dilutive stock options, none of which were included in the EPS calculations above. For each of the three and six months ended September 30, 2016, there were 428,500 of potentially anti-dilutive stock options, none of which were included in the EPS calculations above.