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CAPITAL STOCK and EARNINGS PER SHARE
 12 Months Ended
Mar. 31, 2022
CAPITAL STOCK and EARNINGS PER SHARE  
CAPITAL STOCK and EARNINGS PER SHARE

NOTE 6 - CAPITAL STOCK and EARNINGS PER SHARE

Common Stock

We had 90,000,000 authorized shares of common stock at March 31, 2022 and 2021. There were 34,307,450 and 29,498,662 shares of common stock outstanding at March 31, 2022 and 2021, respectively.

Preferred Stock

We have 10,000,000 authorized shares of preferred stock and our board of directors has broad power to create one or more series of preferred stock and to designate the rights, preferences, privileges, and limitations of the holders of such series. There were no shares of preferred stock outstanding at March 31, 2022 and 2021.

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.

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March 31, 

    

March 31, 

​

​

2022

​

2021

Basic EPS

​

​

​

​

​

​

Net (loss) income

​

$

(349,834)

​

$

320,631

Weighted average shares

​

 

32,380,233

​

 

29,447,085

Net (loss) income per share

​

$

(0.01)

​

$

0.01

Diluted EPS

​

​

​

​

​

​

Net (loss) income

​

$

(349,834)

​

$

320,631

Dilutive effect of stock options

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—

​

 

1,588,270

Weighted average shares

​

 

32,380,233

​

 

31,035,355

Net (loss) 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 fiscal year ended March 31, 2022, there were potential anti-dilutive stock options and warrants, of 2,720,000 and 100,000, respectively, none of which were included in the EPS calculations above. For the year ended March 31, 2021, there were 49,000 of potential common stock equivalents that were out-of-the-money and were not included in the EPS calculations.