XML 21 R11.htm IDEA: XBRL DOCUMENT v3.5.0.2
Note 4
 3 Months Ended
May 31, 2016
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
Note 4 – Basic earnings per share (“EPS”) is computed by dividing net earnings by the weighted average number of common shares outstanding during the period. Diluted EPS is based on the combined weighted average number of common shares outstanding and dilutive potential common shares issuable which include, where appropriate, the assumed exercise of options.  In computing diluted EPS we have utilized the treasury stock method.  The computation of weighted average common and common equivalent shares used in the calculation of basic and diluted EPS is shown below.

Earnings Per Share:
            
   
Three Months Ended May 31,
  
   
2016
    
2015
  
             
Net earnings
  
$
620,200
    
$
324,600
  
                 
Shares:
                
                 
Weighted average shares outstanding - basic
    
4,068,679
      
4,010,830
  
Assumed exercise of options
    
5,918
      
-
  
                 
Weighted average shares outstanding - diluted
    
4,074,597
      
4,010,830
  
                 
Basic Earnings Per Share
  
$
0.15
    
$
0.08
  
Diluted Earnings Per Share
  
$
0.15
    
$
0.08
  
                 
Stock options not considered above because they were antidilutive
    
-
      
10,000
  

Our Board of Directors has adopted a stock repurchase plan in which we may purchase up to a total of 3,000,000 shares as market conditions warrant.  This plan has no expiration date. During the three months ended May 31, 2016, we did not repurchase any shares of common stock.  The maximum number of shares that can be repurchased in the future is 303,152.