Quarterly report pursuant to Section 13 or 15(d)

Note 2 - Net Income Per Share

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Note 2 - Net Income Per Share
3 Months Ended
Dec. 31, 2019
Notes to Financial Statements  
Earnings Per Share [Text Block]
Note
2.
Net Income Per Share
 
Basic net income per common share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the reporting period. Diluted EPS equals net income divided by the sum of the weighted average number of shares of common stock outstanding plus all additional common stock equivalents, such as stock options, when dilutive.
 
The following is a reconciliation of the numerator and denominator of the net income per common share computations for the
three
months ended
December 31, 2019
and
2018:
 
    Three Months Ended December 31,
    2019   2018
Net income   $
501,158
    $
1,009,960
 
Weighted average common shares    
13,512,094
     
13,400,383
 
Dilutive potential common shares    
110,132
     
-
 
Weighted average dilutive common shares outstanding    
13,622,226
     
13,400,383
 
Net income per common share:                
Basic   $
0.04
    $
0.08
 
Diluted   $
0.04
    $
0.08