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11. (Loss) Income Per Common Share
 12 Months Ended
Mar. 31, 2015
(Loss) income per common share:  
11. (Loss) Income Per Common Share

11. (Loss) Income Per Common Share

  

Due to a net loss for the year ended March 31, 2015, the weighted average number of common shares outstanding excludes common stock equivalents because their inclusion would be anti-dilutive. For the year ended March 31, 2014, 35,000 options were excluded from the diluted net income per share calculations because the options are anti-dilutive. Anti-dilutive stock options have a weighted average exercise price of $5.98 at March 31, 2014. Due to a net loss for the year ended March 31, 2013, the weighted average number of common shares outstanding excludes common stock equivalents because their inclusion would be anti-dilutive.

  

The following is a reconciliation of the number of shares used in the calculation of basic income per share and diluted income per share for the periods ended March 31:

  

   2015  2014  2013
Net (loss) income  $(340,986)  $301,113   $(176,374)
Shares outstanding:               
Weighted avg. common shares outstanding – basic   2,038,250    2,036,950    2,036,959 
Effect of the assumed exercise of dilutive stock options   —      5,234    —   
Weighted avg. common shares outstanding – dilutive   2,038,250    2,042,184    2,036,959 
(Loss) income per common share:               
Basic  $(0.17)  $0.15   $(0.09)
Diluted  $(0.17)  $0.15   $(0.09)