v2.3.0.11
Note 7. Net Income per Share
 3 Months Ended
Jun. 30, 2011
Earnings Per Share [Text Block]
7.
NET INCOME PER SHARE.

A reconciliation of the components of basic and diluted net income per common share is presented in the tables below:

   
For the three months ended
   
For the three months ended
 
   
June 30, 2011
   
June 30, 2010
 
   
Income
 
Weighted Average Shares Outstanding
 
Per Share
   
Income
 
Weighted Average Shares Outstanding
 
Per Share
 
Basic:
                           
Income attributable to common stock
 
$
1,762,991
 
55,165,077
 
$
0.03
   
$
111,603
 
54,409,146
 
$
0.00
 
Effect of Dilutive Securities:
                                   
Stock options
   
-
 
1,429,185
   
(0.00
)
   
-
 
1,108,218
   
(0.00
)
Convertible debt
   
(4,927,618
)
9,502,066
   
(0.08
)
   
(564,168
)
9,502,066
   
(0.01
)
Diluted:
                                   
Income attributable to common stock, including assumed conversions
 
$
(3,164,627
)
66,096,328
 
$
(0.05
)
 
$
(452,565
)
65,019,430
 
$
(0.01
)

Potentially dilutive securities excluded from the computation of weighted average diluted shares of common stock because the impact of these potentially dilutive securities was antidilutive totaled 20,000 for the three months ended June 30, 2011.