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EARNINGS PER SHARE
 6 Months Ended
Sep. 30, 2021
EARNINGS PER SHARE  
EARNINGS PER SHARE

NOTE 6 - EARNINGS PER SHARE

Basic earnings per share, or EPS, is computed by dividing reported earnings available to stockholders by the weighted average number of 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:

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Three Months ended

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Three Months ended

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Six Months ended

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Six Months ended

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September 30, 2021

    

September 30, 2020

    

September 30, 2021

    

September 30, 2020

Basic EPS

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​

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​

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​

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Net income (loss)

​

$

(220,413)

​

$

270,764

​

$

1,150,679

​

$

154,530

Weighted average shares

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31,359,941

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29,431,629

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30,424,216

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29,395,791

Net income (loss) per share

​

$

(0.01)

​

$

0.01

​

$

0.04

​

$

0.01

Diluted EPS

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​

​

 

​

​

 

​

​

 

​

Net income (loss)

​

$

(220,413)

​

$

270,764

​

$

1,150,679

​

$

154,530

Dilutive effect of stock options

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—

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1,555,604

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1,602,046

​

 

1,606,339

Weighted average shares

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31,359,941

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30,987,233

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32,026,262

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31,002,130

Net income (loss) per share

​

$

(0.01)

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$

0.01

​

$

0.04

​

$

0.01

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All of the restricted stock issued in September 2021 is included in the weighted average basic and diluted shares calculation. 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 September 30, 2021, there were 1,660,922 of potentially anti-dilutive stock options and warrants, none of which were included in the earnings per share calculations.