EARNINGS PER SHARE

6 Months Ended

Aug. 31, 2022

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 5 – EARNINGS PER SHARE

Basic earnings (loss) per share (“EPS”) is computed by dividing net earnings by the weighted average number of common shares outstanding during the period excluding nonvested restricted stock awards. Diluted EPS includes the dilutive effect of issued unvested restricted stock awards and additional potential common shares issuable under stock warrants, restricted stock and stock options, if applicable. We utilized the treasury stock method in computing the potential common shares issuable under stock warrants, restricted stock and stock options.

The computation of weighted average common and common equivalent shares used in the calculation of basic and diluted EPS is shown below:

		Three Months Ended August 31,								Six Months Ended August 31,
		2022				2021				2022				2021
Earnings (loss):
Net earnings (loss) applicable to common shareholders		$	(801,900	)		$	1,898,200			$	(586,100	)		$	5,336,300

Weighted average shares:
Weighted average shares outstanding-basic			8,081,807				8,028,594				8,084,117				8,028,929
Issued unvested restricted stock and assumed shares issuable under granted unvested restricted stock awards			-				406,754				-				429,735
Weighted average shares outstanding-diluted			8,081,807				8,435,348				8,084,117				8,458,664

Earnings (loss) per share:
Basic		$	(0.10	)		$	0.24			$	(0.07	)		$	0.66
Diluted		$	(0.10	)		$	0.23			$	(0.07	)		$	0.63

As shown in the table below, the following shares have not been included in the calculation of diluted earnings (loss) per share as they would be anti-dilutive to the calculation above.

Three Months Ended

August 31,

Six Months Ended

August 31,

2022

2021

2022

2021

Weighted average shares:

Issued unvested restricted stock and assumed shares issuable under granted unvested restricted stock awards

264,653

-

331,956

-