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7. EARNINGS PER SHARE

6 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

EARNINGS PER SHARE

NOTE 7 LOSS PER SHARE

Basic loss per share data for each period presented is computed using the weighted average number of shares of common stock outstanding during each such period. Diluted loss per share data is computed using the weighted average number of common and dilutive common equivalent shares outstanding during each period. Dilutive common-equivalent shares consist of shares that would be issued upon the exercise of stock options and warrants, computed using the treasury stock method.

		For the Three Months Ended								For the Six Months Ended
		March 31,								March 31,
		2020				2019				2020				2019
Numerator:
Net loss		$	(1,371,614	)		$	(1,130,905	)		$	(1,453,271	)		$	(1,661,432	)

Denominator:
Weighted average shares outstanding - basic			9,533,851				9,532,645				9,533,851				9,530,207

Effects of dilutive securities:
Assumed exercise of stock options, treasury stock method			–				–				–				–
Assumed vesting of restricted stock, treasury stock method			–				–				–				–
Weighted average dilutive potential common shares			–				–				–				–

Weighted average shares outstanding - diluted			9,533,851				9,532,645				9,533,851				9,530,207

Basic loss per share		$	(0.14	)		$	(0.12	)		$	(0.15	)		$	(0.17	)

Diluted loss per share		$	(0.14	)		$	(0.12	)		$	(0.15	)		$	(0.17	)

The following securities were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive:

		As of March 31,
		2020				2019
Options			1,004,397				815,547
Warrants			151,335				151,335
Total potentially dilutive shares			1,155,732				966,882