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1. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Earnings per Share (Policies)
6 Months Ended
Mar. 31, 2020
Policies  
Earnings per Share

Earnings per Share

 

Basic earnings per common share is equal to net earnings or loss divided by the weighted average of shares outstanding during the reporting period. Diluted earnings per share reflects the potential dilution that could occur if stock options and other commitments to issue common stock were exercised or equity awards vest resulting in the issuance of common stock that could share in the earnings of the Company. As of March 31, 2020 and March 31, 2019, the total number of common stock equivalents was 1,705,000 and 1,314,000, respectively, that is comprised totally of stock options. The Company incurred a net loss for the three and six months ended March 31, 2020 and 2019, respectively and therefore, basic and diluted earnings per share for those periods are the same because all potential common equivalent shares would be antidilutive.