v3.8.0.1

Income Per Share | 9 Months Ended
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Aug. 31, 2017
Earnings Per Share [Abstract] |
INCOME PER SHARE | INCOME PER SHARE Basic earnings per share is calculated using the average number of common shares outstanding. Diluted income per share is computed on the basis of the average number of common shares outstanding plus the effect of outstanding stock options and warrants using the “treasury stock method”.
| Three Months Ended |  | Nine Months Ended
| August 31, 2017 |  | August 31, 2016 |  | August 31, 2017 |  | August 31, 2016
Net income available for common shareholders | $ | 377,683 |  |  | $ | 321,367 |  |  | $ | 1,262,984 |  |  | $ | 948,419 |
Weighted average common shares outstanding-Basic | 7,006,684 |  |  | 7,006,684 |  |  | 7,006,684 |  |  | 7,006,684 |
Net effect of dilutive stock options and warrants | 158,343 |  |  | 41,327 |  |  | — |  |  | 68,209 |
Weighted average common shares and common shares equivalents—Diluted | 7,165,027 |  |  | 7,048,011 |  |  | 7,006,684 |  |  | 7,074,893 |
Earnings per Share: |  |  |  |  |  |  |
Basic |  |  |  |  |  |  |
Continuing Operations | $ | 0.05 |  |  | $ | 0.05 |  |  | $ | 0.18 |  |  | $ | 0.14 |
Discontinued Operations | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Income | $ | 0.05 |  |  | $ | 0.05 |  |  | $ | 0.18 |  |  | $ | 0.14 |
Diluted |  |  |  |  |  |  |
Continuing Operations | $ | 0.05 |  |  | $ | 0.05 |  |  | $ | 0.18 |  |  | $ | 0.14 |
Discontinued Operations | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Income | $ | 0.05 |  |  | $ | 0.05 |  |  | $ | 0.18 |  |  | $ | 0.14 |
For the three months ended August 31, 2017 and August 31, 2016, there were 421,500 and 560,000 shares, respectively, underlying previously issued stock options and warrants that were excluded from diluted loss per share because the effects of such shares were anti-dilutive. For the nine months ended August 31, 2017 and August 31, 2016, there were 2,689,244 and 2,204,744 shares, respectively, underlying previously issued stock options and warrants that were excluded from diluted loss per share because the effects of such shares were anti-dilutive.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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