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EARNINGS PER SHARE

3 Months Ended

Jun. 30, 2019

NOTE 6 - EARNINGS PER SHARE

Basic EPS is computed by dividing reported earnings available to stockholders by the weighted average shares outstanding. Diluted EPS also includes the effect of stock options that would be dilutive. The following table provides a reconciliation of the numerators and denominators reflected in the basic and diluted earnings per share computations, as required under FASB ASC 260.

	June 30, 2019		June 30, 2018
Basic EPS
Net income	$	220,777	$	164,385
Weighted average shares		29,253,495		28,824,593
Basic income per share	$	0.01	$	0.01
Diluted EPS
Net income	$	220,777	$	164,385
Dilutive effect of stock options		1,457,512		272,134
Diluted weighted average shares		30,711,007		29,096,727
Diluted income per share	$	0.01	$	0.01

All potential common stock equivalents that have an anti-dilutive effect (i.e. those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS.

For the three months ended June 30, 2019 and 2018, there were 98,000 and 862,668, respectively, of potentially anti-dilutive stock options, none of which were included in the EPS calculations above.