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NOTE 3 - NET INCOME PER COMMON SHARE

6 Months Ended

Jun. 30, 2016

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

NOTE 3 – NET INCOME PER COMMON SHARE

The Company’s basic income per common share is based on net income for the relevant period, divided by the weighted average number of common shares outstanding during the period.  Diluted income per common share is based on net income, divided by the weighted average number of common shares outstanding during the period, including common share equivalents, such as outstanding option and warrants to the extent they are dilutive. The computation of diluted income per share for the three and six months ended June 30, 2016 and June 30, 2015 does not include share equivalents as all warrants and options exceeded the average market price of our common stock. Convertible debt is included below, based on the if-converted method.                              

		Three Months Ended				Three Months Ended
		June 30, 2016				June 30, 2015
Basic net income per share computation:
Net income		$	547,120			$	44,601
Weighted-average common shares outstanding			4,410,736				4,341,637
Basic net income per share		$	0.12			$	0.01
Diluted net income per share computation:
Net income		$	547,120			$	44,601
Weighted-average common shares outstanding			4,477,403				4,341,637
Total adjusted weighted-average shares			4,477,403				4,341,637
Diluted net income per share		$	0.12			$	0.01

		Six Months Ended				Six Months Ended
		June 30, 2016				June 30, 2015
Basic net income per share computation:
Net income		$	621,397			$	565,768
Weighted-average common shares outstanding			4,410,736				4,192,804
Basic net income per share		$	0.14			$	0.13
Diluted net income per share computation:
Net income		$	621,397			$	565,768
Weighted-average common shares outstanding			4,477,403				4,192,804
Total adjusted weighted-average shares			4,477,403				4,192,804
Diluted net income per share		$	0.14			$	0.13

The following table summarizes securities that, if exercised, would have an anti-dilutive effect on earnings per share.

		Three Months June 30, 2016				Three Months June 30, 2015
Stock options			183,576				163,846
Warrants			203,253				203,253
Total potential dilutive securities not included in income per share			368,829				367,099

		Six Months June 30, 2016				Six Months June 30, 2015
Stock options			183,576				163,846
Warrants			203,253				203,253
Total potential dilutive securities not included in income per share			368,829				367,099

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=64863997&loc=d3e1278-109256

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64863997&loc=d3e1252-109256

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=65016374&loc=d3e4984-109258

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.21)
-URI http://asc.fasb.org/extlink&oid=63488584&loc=d3e20235-122688

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