EARNINGS PER SHARE

6 Months Ended

Jan. 31, 2018

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE 6 – EARNINGS PER SHARE

Basic Earnings Per Share

Basic earnings per share is calculated by dividing the net profit for the year by the weighted average number of common shares outstanding during the financial year of the Company.

	Three month period ended						Nine month period ended
	January 31,			January 31,			January 31,		January 31,
	2018			2017			2018		2017
Net Income (Loss) for the period	$	(34,209	)	$	(221,313	)	$	582,597	$	103,444
Number of common shares outstanding		52,042,286			52,042,286			52,042,286		52,042,286
Basic Earnings per Share	$	(0.00	)	$	(0.00	)	$	0.01	$	0.00

Diluted Earnings Per Share

For the purpose of calculating diluted earnings per share, the profit attributable to equity holders of the Company and the weighted average number of shares outstanding during the fiscal period have been adjusted for the dilutive effects of all potential common shares, share options and deferred share units (“DSUs”) granted to management. The dilutive earnings per share is calculated by dividing the adjusted net income (loss) for the period by the weighted average number of shares that would have been in issue upon full exercise of the outstanding DSUs.

	Three month period ended						Six month period ended
	January 31,			January 31,			January 31,			January 31,
	2018			2017			2018			2017
Net Income (Loss) for the period	$	(34,209	)	$	(221,313	)	$	582,597		$	103,444
Gains associated with DSUs		8,915			174,478			(638,855	)		(186,492	)
Adjusted Net Income (Loss) for the period	$	(25,294	)	$	(46,835	)	$	(56,258	)	$	(83,048	)
Number of common shares outstanding		52,042,286			52,042,286			52,042,286			52,042,286
DSUs at beginning of the period		891,434			1,645,653			5,942,841			1,645,653
DSUs issued during the period*		-			1,010,766			-			1,577,544
DSUs waived during the period**		-			-			(5,051,406	)		-
Adjusted number of common shares outstanding		52,933,720			54,698,705			52,933,721			55,265,483
Diluted Loss per Share	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.00	)

_________

*	Shares were issued on the final day of the three month period; accordingly, for the three month period, any weighted average issued and outstanding would be nil. As of August 1, 2017, no further DSUs are being issued by the Company.
**	Shares were waived as of August 1, 2017. As such, there were 891,434 DSUs outstanding throughout the entire six month period ended January 31, 2018.