Loss Per Common Share

9 Months Ended

Dec. 31, 2015

Loss per common share:

Loss Per Common Share

10. Loss Per Common Share

The Company’s basic net loss per share has been computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per share assumes the exercise of all stock options having exercise prices less than the average market price of the common stock during the period using the treasury stock method and is computed by dividing net loss by the weighted average number of common share and dilutive potential common shares (stock options) outstanding during the period. In periods where losses are reported, the weighted-average number of common shares outstanding excludes potential common shares, because their inclusion would be anti-dilutive.

The following is a reconciliation of the number of shares used in the calculation of basic net loss per share and diluted loss per share for the three and nine month periods ended December 31, 2015 and 2014:

	Three Months Ended						Nine Months Ended
	December 31						December 31
	2015			2014			2015			2014
Net loss	$	(2,445,536	)	$	(175,321	)	$	(3,546,209	)	$	(70,011	)
Shares outstanding:
Weighted avg. common shares outstanding – basic		2,037,266			2,038,266			2,037,266			2,038,266
Effect of the assumed exercise of dilutive stock options		-			-			-			-
Weighted avg. common shares outstanding – dilutive		2,037,266			2,038,266			2,037,266			2,038,266
Loss per common share:
Basic	$	(1.20	)	$	(0.09	)	$	(1.74	)	$	(0.03	)
Diluted	$	(1.20	)	$	(0.09	)	$	(1.74	)	$	(0.03	)

Due to a net loss for the three and nine months ended December 31, 2015 and 2014, the weighted average number of common shares outstanding excludes common stock equivalents because their inclusion would be anti-dilutive.