3. INCOME (LOSS) PER SHARE

9 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

INCOME (LOSS) PER SHARE

3. INCOME (LOSS) PER SHARE

Basic income (loss) per common share is computed by dividing net income (loss) for the period by the weighted-average number of shares of common stock outstanding during the period. Diluted income (loss) per common share is computed by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares of common stock that would have been outstanding if the potentially dilutive securities had been issued. Potentially dilutive securities included outstanding stock options. The dilutive effect of potentially dilutive securities is reflected in diluted earnings per share by application of the treasury stock method. Under the treasury stock method, an increase in the fair market value of the Company’s common stock can result in a greater dilutive effect from potentially dilutive securities.

The following table sets forth the computation of basic and diluted earnings per share:

	For the three months ended					For the nine months ended
	December 31,					December 31,
	2015			2014		2015			2014
	$			$		$			$
Net income (loss)	$	(363,869	)	$	275,741	$	(838,526	)	$	133,324
Weighted average common shares - basic		293,678,330			293,328,330		293,564,512			293,328,330
Basic income (loss) per common share	$	(0.00	)	$	0.00	$	(0.00	)	$	0.00
Diluted
Net income (loss)	$	(363,869	)	$	275,741	$	(838,526	)	$	133,324
Weighted average common shares - basic		293,678,330			293,328,330		293,564,512			293,328,330
Effect of dilutive common shares		–			835,944		–			806,988
Weighted average common shares - diluted		293,678,330			294,164,274		293,564,512			294,135,318
Net income (loss) per common share - basic	$	(0.00	)	$	0.00	$	(0.00	)	$	0.00
Net income (loss) per common share - diluted	$	(0.00	)	$	0.00	$	(0.00	)	$	0.00
Potentially dilutive securities outstanding at period end excluded from diluted computation as they were antidilutive		4,500,000			–		4,500,000			–