Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

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EARNINGS PER SHARE
9 Months Ended
Mar. 31, 2022
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

March 31, 2022

   

For the nine months ended

March 31, 2022

 
    Net Loss     Shares     Per Share     Net Income     Shares     Per Share  
Basic income (loss) per share:                                                
Net income (loss) available to common shareholders   $ (278,470 )     11,249,606     $            (0.02 )   $       1,316,284       11,249,449     $              0.12  
Effect of dilutive securities                                                
Share grants     -       -       -       -       -       -  
Diluted income (loss) per share   $ (278,470 )     11,249,606     $ (0.02 )   $ 1,316,284       11,249,449     $ 0.12  

 

   

For the three months ended

March 31, 2021

   

For the nine months ended

March 31, 2021

 
    Net Loss     Shares     Per Share     Net Loss     Shares     Per Share  
                                     
Basic loss per share:                                                
Net loss available to common shareholders   $ (623,231 )     11,343,406     $            (0.05 )   $ (147,781 )     11,571,878     $             (0.01 )
Effect of dilutive securities                                                
Share grants     -       -       -       -       -       -  
Diluted loss per share   $ (623,231 )     11,343,406     $ (0.05 )   $ (147,781 )     11,571,878     $ (0.01 )

 

For the three month ended March 31, 2022, 5,000 share grants were excluded from the shares used to calculate diluted earnings per share as their inclusion would have been anti-dilutive.

 

For the three and nine months ended March 31, 2021, 30,699 share grants were excluded from the shares used to calculate diluted earnings per share as their inclusion would have been anti-dilutive.