COMPUTATION OF EARNINGS (LOSS) PER SHARE
Computation of dilutive shares for fiscal years ended March 31, 2021 and 2020 are as follows:
|Fiscal year ended March 31, 2021||Fiscal year ended March 31, 2020|
|Basic weighted average common shares outstanding||38,760,092||38,532,889|
|Effect of dilutive stock options||368,558||-|
|Diluted weighted average of common shares outstanding||39,128,650||38,532,889|
Basic net income per share is based on the weighted average number of shares of common stock outstanding during the period. Diluted net income per share reflects the potential dilution assuming shares of common stock were issued upon the exercise of outstanding in-the-money options and the proceeds thereof were used to purchase shares of Company common stock at the average market price during the period using the treasury stock method. For fiscal years ended March 31, 2021 and 2020, options to purchase approximately 750,000 shares and approximately 2,230,000 shares of common stock have been excluded from diluted earnings per share as the result would have been anti-dilutive.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
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