v2.4.0.6
Note 7. Net Income per Share
 9 Months Ended
Dec. 31, 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
 
   
December 31, 2011
 
Basic:  
Income
   
Weighted Average Shares Outstanding
   
Per Share
 
Income attributable to common stock
  $ 2,273,314       55,868,366     $ 0.04  
Effect of Dilutive Securities:
                       
Stock options
    -       405,882       (0.00 )
Convertible debt
    (5,266,626 )     9,502,066       (0.09 )
Diluted:
                       
Income attributable to common stock, including assumed conversions
  $ (2,993,312 )     65,776,314     $ (0.05 )

   
For the Nine-Months Ended
 
   
December 31, 2011
 
Basic:  
Income
   
Weighted Average Shares Outstanding
   
Per Share
 
Income attributable to common stock
  $ 5,190,252       55,551,397     $ 0.09  
Effect of Dilutive Securities:
                       
Stock options
    -       445,013       (0.00 )
Convertible debt
    (6,289,401 )     9,502,066       (0.11 )
Diluted:
                       
Income attributable to common stock, including assumed conversions
  $ (1,099,149 )     65,498,476     $ (0.02 )

For the three-month and nine-month periods ending December 31, 2011, 120,000 potentially dilutive securities were excluded from the computation of weighted average diluted shares of common stock because the impact of these potentially dilutive securities were antidilutive.