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(Loss) Income Per Common Share | 12 Months Ended
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Mar. 31, 2016
(Loss) income per common share: |
(Loss) Income Per Common Share | 10. (Loss) Income Per Common Share Due to a net loss for the year ended March 31, 2016 and 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. 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:
|  | 2016 |  |  | 2015 |  |  | 2014 |
Net (loss) income |  | $ | (3,979,685 | ) |  | $ | (340,986 | ) |  | $ | 301,113 |
Shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |
Weighted avg. common shares outstanding – basic |  |  | 2,037,266 |  |  |  | 2,038,250 |  |  |  | 2,036,950 |
Effect of the assumed exercise of dilutive stock options |  |  | - |  |  |  | - |  |  |  | 5,234 |
Weighted avg. common shares outstanding – dilutive |  |  | 2,037,266 |  |  |  | 2,038,250 |  |  |  | 2,042,184 |
(Loss) income per common share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | (1.95 | ) |  | $ | (0.17 | ) |  | $ | 0.15 |
Diluted |  | $ | (1.95 | ) |  | $ | (0.17 | ) |  | $ | 0.15 |

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