Earnings Per Share

6 Months Ended

Nov. 30, 2011

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

19.  Earnings Per Share

The following is a reconciliation of the basic and diluted earnings per share for the six months ended November 30, 2011 and 2010:

	2011		2010
Net income (loss) for earnings per share	$	4,906,720	$	8,854,700
Weighted average shares used in basic computation		13,283,475		12,929,992
Diluted effect of warrants and options		-		-
Weighted average shares used in diluted computation		13,283,475		12,929,992
Earnings (loss) per share, basic	$	0.37	$	0.68
Earnings (loss) per share, diluted	$	0.37	$	0.68

Weighted average stock prices for the six months ended November 30, 2011 and 2010 are lower than warrants and option exercise prices (disclosed in note 15) so there is no diluted effect.