EARNINGS PER SHARE (EPS)

6 Months Ended

Sep. 30, 2018

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 September 30, 2018		Three months ended September 30, 2017		Six months ended September 30, 2018		Six months ended September 30, 2017
Basic EPS:
Net Income	$	180,715	$	368,186	$	345,100	$	792,688
Weighted average shares		28,824,593		28,824,593		28,824,593		28,824,593
Basic Income per share	$	0.01	$	0.01	$	0.01	$	0.03
Diluted EPS:
Net Income	$	180,715	$	368,186	$	345,100	$	792,688
Dilutive effect of stock options		1,325,892		905,863		1,229,462		926,626
Diluted weighted average shares		30,150,485		29,730,456		30,054,055		29,751,219
Diluted Income per share	$	0.01	$	0.01	$	0.01	$	0.03

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, 2018 and 2017, there were 642,668 and 742,668, and 596,668 and 496,668, respectively, of potentially anti-dilutive stock options, none of which were included in the EPS calculations above.