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EARNINGS/(LOSS) PER SHARE | 9 Months Ended
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Jun. 30, 2021
Earnings/(loss) per share: |
EARNINGS/(LOSS) PER SHARE | NOTE 7 EARNINGS/(LOSS) PER SHARE Basic earnings/(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 earnings/(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. A reconciliation of basic and diluted earnings/(loss) per share is as follows:
Schedule of Earnings Per Share, Basic and Diluted |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | For the Three Months Ended June 30, |  |  | For the Nine Months Ended June 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net income/(loss) |  | $ | 244,000 |  |  | $ | (215,000 | ) |  | $ | 608,000 |  |  | $ | (1,668,000 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average common shares outstanding |  |  | 9,964,000 |  |  |  | 9,534,000 |  |  |  | 9,920,000 |  |  |  | 9,534,000 |
Dilutive common share equivalents |  |  | 549,000 |  |  |  | – |  |  |  | 503,000 |  |  |  | – |
Weighted average diluted shares outstanding |  |  | 10,513,000 |  |  |  | 9,534,000 |  |  |  | 10,423,000 |  |  |  | 9,534,000 |
Earnings/(loss) per share |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.02 |  |  | $ | (0.02 | ) |  | $ | 0.06 |  |  | $ | (0.18 | )
Diluted |  | $ | 0.02 |  |  | $ | (0.02 | ) |  | $ | 0.06 |  |  | $ | (0.18 | )
The following securities were excluded from the calculation of diluted earnings/(loss) per share in each period because their inclusion would have been anti-dilutive:
Schedule of antidilutive securities excluded |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | For the Three Months Ended June 30, |  |  | For the Nine Months Ended June 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Options |  |  | 10,000 |  |  |  | 954,000 |  |  |  | 10,000 |  |  |  | 954,000 |
Warrants |  |  | – |  |  |  | 151,000 |  |  |  | – |  |  |  | 151,000 |
Total potentially dilutive shares |  |  | 10,000 |  |  |  | 1,105,000 |  |  |  | 10,000 |  |  |  | 1,105,000 |

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