Basic and Diluted Income and Loss per Common Share

3 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Basic and Diluted Income and Loss per Common Share

Note 3. Basic and Diluted Income and Loss per Common Share

We report both basic and diluted net income (loss) per share. Basic net income or loss per common share is computed by dividing net income or loss for the period by the weighted average number of common shares outstanding for the period. Diluted net income or loss per common share is computed by dividing the net income or loss for the period by the weighted average number of common and potential common shares outstanding during the period if the effect of the potential common shares is dilutive. The shares used in the calculation of dilutive potential common shares exclude options to purchase shares where the exercise price was greater than the average market price of common shares for the period.

The following table presents the calculation of basic and diluted net loss per share:

	Three Months Ended
	June 30, 2021			June 30, 2020
Net (loss)	$	(6,842	)	$	(139,305	)
Weighted-average basic shares outstanding		11,582,641			11,582,641
Effect of dilutive securities		—			—
Weighted-average diluted shares		11,582,641			11,582,641
Basic net (loss) per share	$	0.00		$	(0.01	)
Diluted net (loss) per share	$	0.00		$	(0.01	)
Antidilutive employee stock options		1,036,000			1,018,000