Quarterly report pursuant to Section 13 or 15(d)

Note 1 - Nature of Business and Significant Accounting Policies: Earnings (loss) Per Share (Policies)

v3.7.0.1
Note 1 - Nature of Business and Significant Accounting Policies: Earnings (loss) Per Share (Policies)
9 Months Ended
May 31, 2017
Policies  
Earnings (loss) Per Share

Earnings (Loss) Per Share

 

The Company computes net loss per share under Accounting Standards Codification subtopic 260-10, "Earnings per Share" (“ASC 260-10”).  Basic net income (loss) per common share is computed by dividing net loss by the weighted average number of shares of common stock.  Diluted net loss per share is computed using the weighted average number of common and common stock equivalent shares outstanding during the period. 

 

Basic earnings per share are computed by dividing net earnings by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share are computed by dividing net earnings by the sum of (a) the weighted average number of shares of common stock outstanding during the period and (b) the potentially dilutive securities outstanding during the period. Stock options are the only potentially dilutive securities; and the number of dilutive options is computed using the treasury stock method.

 

The following table sets forth the calculation of basic and diluted earnings per share:

 

Three months ended

Nine months ended

May 31,

May 31,

May 31,

May 31,

2017

2016

2017

2016

Net income (loss)

$            6,119

$        23,284

$ (151,545)

$         39,981

Weighted average common shares outstanding for

    basic EPS

    51,805,930

  46,525,540

50,458,416 

   46,667,750

Net effect of dilutive options

       1,528,302

    1,052,787

                   - 

     1,052,787

Weighted average common shares outstanding for

    diluted EPS

    53,334,232

  47,578,327

50,458,416 

   47,720,537

Basic earnings (loss) per share

$               0.00

$            0.00

$        (0.00)

$             0.00

Diluted earnings (loss) per share

$               0.00

$            0.00

$        (0.00)

$             0.00