Net income (loss) per share |
3 Months Ended |
|---|---|
Oct. 31, 2015 | |
| Earnings Per Share [Abstract] | |
| Earnings Per Share [Text Block] |
Note 2 – Net income (loss) per share Basic net income (loss) per share represents net income (loss) divided by the weighted average number of common shares outstanding during the period. As a result of the net loss for the three month period ended October 31, 2014, diluted weighted average shares outstanding are the same as basic weighted average shares outstanding, and do not include the potential common shares from stock options and unvested restricted stock because to do so would be antidilutive. For the three months ended October 31, 2015, approximately 125,000 weighted average stock options were included in the calculation of diluted weighted average shares outstanding. For the three months ended October 31, 2014, the number of potential common shares (“in the money options”) and unvested restricted stock excluded from the calculation of diluted earnings per share was 482,000. For the three months ended October 31, 2015 and 2014, the effect of approximately 374,000 and 142,000 respectively, of outstanding “out of the money” options to purchase common shares were excluded from the calculation of diluted net income (loss) per share because their effect would be anti-dilutive. |