Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

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EARNINGS PER SHARE
 3 Months Ended
Sep. 30, 2021
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

NOTE 4 – EARNINGS PER SHARE

 

Basic earnings per share are computed based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding stock options and stock awards.

 

The components of basic and diluted earnings per share were as follows:

 

    For the three months ended September 30, 2021  
    Net Income     Shares     Per Share  
Basic income per share:                        
Net income available to common shareholders   $ 187,969       11,254,205     $ 0.02  
Effect of dilutive securities                        
Share grants     -       -       -  
Diluted income per share   $ 187,969       11,254,205     $ 0.02  
                         
      For the three months ended September 30, 2020  
      Net Income       Shares       Per Share  
                         
Basic income per share:                        
Net income available to common shareholders   $ 717,554       11,787,233     $ 0.06  
Effect of dilutive securities                        
Share grants     -       -       -  
Diluted income per share   $ 717,554       11,787,233     $ 0.06