EARNINGS PER SHARE (EPS)

3 Months Ended

Jun. 30, 2018

Earnings Per Share [Abstract]

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 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 June 30, 2018		Three months ended June 30, 2017
Basic EPS
Net income	$	164,385	$	424,502
Weighted average shares		28,824,593		28,824,593
Basic income per share	$	0.01	$	0.01
Diluted EPS
Net income	$	164,385	$	424,502
Dilutive effect of stock options		272,134		942,073
Diluted weighted average shares		29,096,727		29,766,666
Diluted income per share	$	0.01	$	0.01

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 months ended June 30, 2018 and 2017, there were 862,668 and 502,668, respectively, of potentially anti-dilutive stock options, none of which were included in the EPS calculations above.