Net Income Per Common Share

3 Months Ended

Feb. 28, 2013

Net Income Per Common Share [Abstract]

Net Income Per Common Share

Note 5 – Net Income Per Common Share

Basic net income per share is computed by dividing net income available to common stockholders (numerator) by the weighted average number of vested, common shares outstanding during the period (denominator). Diluted net income per share is computed on the basis of the weighted average number of shares of common stock outstanding plus the effect of dilutive potential common shares outstanding during the period using the if-converted method. Dilutive potential common shares include shares issuable upon exercise of outstanding stock options, warrants and convertible debt agreements.

	Three Months Ended		Three Months Ended
	Feb. 29, 2013		Feb. 29, 2012
Net income  – numerator basic	$	2,312,699	$	3,206,757
Interest expense attributable to convertible notes, net		99,930		427,759
Net income plus interest expense attributable to convertible notes, net – numerator diluted	$	2,412,629	$	3,634,516
Weighted average common shares outstanding – denominator basic		355,594,056		113,645,062
Effect of dilutive securities		694,828,610		103,819,259
Weighted average dilutive common shares outstanding – denominator diluted		1,050,422,666		217,464,321
Net income per common share – basic	$	0.01	$	0.03
Net income per common share – diluted	$	0.00	$	0.02

Approximately 22,103,000 and 14,286,000 shares of common stock issuable upon the exercise of our outstanding stock options, warrants or convertible debt that were excluded from the calculation of net income per share for the three-month periods ended February 28, 2013 and February 29, 2012, respectively, because the effect would be anti-dilutive.

As of February 28, 2013, the weighted average diluted common shares outstanding exceeds the number of authorized common shares of the Company. This excess has no effect on diluted net income per common share for the three months ended February 28, 2013.