| Components of Basic and Diluted Earnings Per Share |
The components of basic and diluted earnings per share were
as follows:
| |
|
For the three months ended March 31, 2016 |
|
|
For the nine months ended March 31, 2016 |
|
| |
|
Net Income |
|
|
Shares |
|
|
Per Share |
|
|
Net Income |
|
|
Shares |
|
|
Per Share |
|
| Basic income per share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income available to common shareholders |
|
$ |
849,479 |
|
|
|
10,427,664 |
|
|
$ |
0.08 |
|
|
$ |
1,313,516 |
|
|
|
10,338,740 |
|
|
$ |
0.13 |
|
| Effect of dilutive securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Stock options |
|
|
- |
|
|
|
212,674 |
|
|
|
- |
|
|
|
- |
|
|
|
212,674 |
|
|
|
- |
|
| Warrants |
|
|
- |
|
|
|
3,141 |
|
|
|
- |
|
|
|
- |
|
|
|
3,141 |
|
|
|
- |
|
| Diluted income per share |
|
$ |
849,479 |
|
|
|
10,643,479 |
|
|
$ |
0.08 |
|
|
$ |
1,313,516 |
|
|
|
10,554,555 |
|
|
$ |
0.12 |
|
| |
|
For the three months ended March 31, 2015 |
|
|
For the nine months ended March 31, 2015 |
|
| |
|
Net Loss |
|
|
Shares |
|
|
Per Share |
|
|
Net Loss |
|
|
Shares |
|
|
Per Share |
|
| Basic loss per share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net loss available to common shareholders |
|
$ |
(1,636,245 |
) |
|
|
9,914,321 |
|
|
$ |
(0.17 |
) |
|
$ |
(4,841,440 |
) |
|
|
9,573,336 |
|
|
$ |
(0.51 |
) |
| Effect of dilutive securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Stock options |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Warrants |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Diluted loss per share |
|
$ |
(1,636,245 |
) |
|
|
9,914,321 |
|
|
$ |
(0.17 |
) |
|
$ |
(4,841,440 |
) |
|
|
9,573,336 |
|
|
$ |
(0.51 |
) |
|
| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
The following potential dilutive shares
were excluded from the shares used to calculate diluted earnings per share as their inclusion would be anti-dilutive.
| |
|
For the Three Months |
|
|
For the Nine Months |
|
| |
|
Ended March 31, |
|
|
Ended March 31, |
|
| |
|
2016 |
|
|
2015 |
|
|
2016 |
|
|
2015 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Stock Options |
|
|
- |
|
|
|
727,462 |
|
|
|
- |
|
|
|
727,462 |
|
| Warrants |
|
|
- |
|
|
|
163,124 |
|
|
|
- |
|
|
|
163,124 |
|
| |
|
|
- |
|
|
|
890,586 |
|
|
|
- |
|
|
|
890,586 |
|
|