Quarterly report pursuant to Section 13 or 15(d)

EARNINGS (LOSS) PER SHARE

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EARNINGS (LOSS) PER SHARE
9 Months Ended
Sep. 30, 2015
Notes to Financial Statements  
NOTE F - EARNINGS (LOSS) PER SHARE

Basic Earnings (loss) per share is calculated by dividing the net income (loss) by the weighted average number of outstanding common shares during the period. Diluted per share data includes the dilutive effects of options, warrants and convertible securities. Potential shares of 3,605,000 and 3,700,000 at September 30, 2015 and September 30, 2014, respectively, consisted of options and warrants.  Computations of basic and diluted weighted average common shares outstanding are as follows:

 

   

Nine Months Ended

 September 30,

   

Three Months Ended

 September 30,

 
                         
    2015     2014     2015     2014  
                         
Weighted-average common shares outstanding – basic     23,597,143       25,396,573       23,273,946       24,942,874  
Dilutive effect of options and warrants     993,344       2,214,406       1,380,753        
Weighted-average common shares outstanding – diluted     24,590,487       27,610,979       24,654,699       24,942,874  
Options and warrants excluded from the computation of diluted income (loss) per share because the effect of inclusion would have been anti-dilutive     105,000       675,000       105,000       3,700,000