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NOTE 3 - NET INCOME PER COMMON SHARE | 6 Months Ended
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Jun. 30, 2018
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, 2018 and June 30, 2017 does not include all share equivalents as the exercise price of certain warrants and options exceeded the average market price of the common stock. Convertible debt is included below, based on if-converted method.
|  | Three Months Ended |  |  | Three Months Ended |
|  | June 30, 2018 |  |  | June 30, 2017 |
Basic net income per share computation: |  |  |  |  |  |  |  |
Net income |  | $ | 17,218 |  |  | $ | 120,493 |
Weighted-average common shares outstanding |  |  | 4,501,755 |  |  |  | 4,489,903 |
Basic net income per share |  | $ | 0.00 |  |  | $ | 0.03 |
Diluted net income per share computation: |  |  |  |  |  |  |  |
Net income |  | $ | 17,218 |  |  | $ | 120,493 |
Weighted-average common shares outstanding |  |  | 4,501,755 |  |  |  | 4,489,903 |
Incremental shares for stock options |  |  | 4,000 |  |  |  | 4,000 |
Incremental shares for convertible promissory notes |  |  | 112,049 |  |  |  | - |
Total adjusted weighted-average shares |  |  | 4,617,804 |  |  |  | 4,493,903 |
Diluted net income per share |  | $ | 0.00 |  |  | $ | 0.03 |
|  | Six Months Ended |  |  | Six Months Ended |
|  | June 30, 2018 |  |  | June 30, 2017 |
Basic net income per share computation: |  |  |  |  |  |  |  |
Net income |  | $ | 75,605 |  |  | $ | 274,347 |
Weighted-average common shares outstanding |  |  | 4,497,709 |  |  |  | 4,488,038 |
Basic net income per share |  | $ | 0.02 |  |  | $ | 0.06 |
Diluted net income per share computation: |  |  |  |  |  |  |  |
Net income |  | $ | 75,605 |  |  | $ | 274,347 |
Weighted-average common shares outstanding |  |  | 4,497,709 |  |  |  | 4,488,038 |
Incremental shares for stock options |  |  | 4,000 |  |  |  | 4,000 |
Incremental shares for convertible promissory notes |  |  | 56,025 |  |  |  | - |
Total adjusted weighted-average shares |  |  | 4,557,734 |  |  |  | 4,492,038 |
Diluted net income per share |  | $ | 0.02 |  |  | $ | 0.06 |
The following table summarizes securities that, if exercised, would have an anti-dilutive effect on earnings per share.
|  | Three Months June 30, 2018 |  |  | Three Months June 30, 2017 |
Stock options |  |  | 52,280 |  |  |  | 100,888 |
Warrants |  |  | 208,241 |  |  |  | 208,241 |
Total potential dilutive securities not included in income per share |  |  | 260,521 |  |  |  | 309,129 |
|  | Six Months June 30, 2018 |  |  | Six Months June 30, 2017 |
Stock options |  |  | 52,280 |  |  |  | 122,231 |
Warrants |  |  | 208,241 |  |  |  | 208,241 |
Total potential dilutive securities not included in income per share |  |  | 260,521 |  |  |  | 330,472 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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