Note 3 - Earnings (Loss) Per Share

6 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

3.     Earnings (Loss) Per Share

Earnings (loss) per common share (“EPS”) is calculated for basic EPS by dividing net income (loss) available to common stockholders by the weighted average number of vested common shares outstanding during the period. Diluted EPS reflects the potential dilution that could occur assuming conversion or exercise of all dilutive unconverted or unexercised financial instruments. Potentially dilutive instruments include warrants and preferred stock.

The basic loss attributable to common stockholders was computed as follows:

	Three Months Ended						Six Months Ended
	September 30,						September 30,
	2014			2013			2014			2013
Net loss	$	(1,480,071	)	$	(1,508,271	)	$	(2,894,947	)	$	(2,566,745	)
Cumulative dividends		(75,000	)		(75,000	)		(150,000	)		(150,000	)
Net loss attributable to common shareholders	$	(1,555,071	)	$	(1,583,271	)	$	(3,044,947	)	$	(2,716,745	)

There were no dilutive instruments as of September 30, 2014 or 2013 due to the recognition of a net loss for the three and six month periods then ended. The weighted average shares outstanding were 83,508,252 and 13,508,252 for both the three and six month periods ended September 30, 2014 and 2013, respectively.