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EARNINGS/(LOSS) PER SHARE

9 Months Ended

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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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI http://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257

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