Annual report pursuant to Section 13 and 15(d)

Note 1 - Significant Accounting Policies: Basic and Diluted Earnings Per Share (Policies)

v3.5.0.1
Note 1 - Significant Accounting Policies: Basic and Diluted Earnings Per Share (Policies)
12 Months Ended
Mar. 31, 2016
Policies  
Basic and Diluted Earnings Per Share

Basic and Diluted Earnings Per Share

 

The computation of basic earnings per share of common stock is based on the weighted average number of shares outstanding during the periods presented using the treasury stock method. The computation of fully diluted earnings per share includes common stock equivalents outstanding at the balance sheet date. The Company had equity awards of 315,791 and 71,015 included in the fully diluted earnings per share as of March 31, 2016 and 2015 respectively. Basic earnings per share for the years ended March 31, 2016 and 2015 are as follows:

 

 

 

For the Years Ending March 31,

 

 

2016

 

 

2015

Net income applicable to common shareholders

$

          34,744

 

$

      5,747,683

Weighted average shares outstanding

 

    53,243,151

 

 

    51,609,760

Weighted average fully diluted shares outstanding

    53,558,942

 

 

    51,680,775

Basic earnings per share

$

             0.00

 

$

             0.11

Fully diluted earnings per share

$

             0.00

 

$

             0.11