NOTE 2 - EARNINGS (LOSS) PER SHARE

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

NOTE 2 – EARNINGS (LOSS) PER SHARE

Basic and diluted earnings (loss) per share are calculated as follows:

	Three Months Ended September 30,
	2014				2013 - Restated
	Basic		Diluted		Basic		Diluted
Net Income	$	206,313	$	206,313	$	351,999	$	351,999
Weighted average common shares outstanding		14,942,728		14,942,728		13,567,216		13,567,216
Effect of dilutive securities		--		262,573		--		97,116
Weighted average common shares, including
Dilutive effect		14,942,728		15,205,301		13,567,216		13,664,332
Per share:
Net income	$	0.01	$	0.01	$	0.03	$	0.03

	Nine Months Ended September 30,
	2014						2013 - Restated
	Basic			Diluted			Basic		Diluted
Net Income (Loss)	$	(323,398	)	$	(323,398	)	$	1,126,858	$	1,126,858
Weighted average common shares outstanding		14,942,728			14,942,728			13,567,216		13,567,216
Effect of dilutive securities		--			--			--		77,814
Weighted average common shares, including
Dilutive effect		14,942,728			14,942,728			13,567,216		13,645,030
Per share:
Net income	$	(0.02	)	$	(0.02	)	$	0.08	$	0.08

For the nine months ended September 30, 2014, Royale Energy had dilutive securities of 184,844.  These securities were not included in the dilutive loss per share due to their antidilutive nature.