Annual report pursuant to Section 13 and 15(d)

Earnings Per Share

v3.7.0.1
Earnings Per Share
 12 Months Ended
Jun. 30, 2017
Earnings Per Share [Abstract]  
Earnings Per Share

NOTE 3 – 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, warrants, and stock awards.

 

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

 

    For the year ended June 30, 2017  
    Net Loss     Shares     Per Share  
Basic loss per share:                  
Net loss available to common shareholders   $ (4,978,030 )     10,912,284     $ (0.46 )
Effect of dilutive securities                        
Stock options     -       -       -  
Warrants     -       -       -  
Diluted loss per share   $ (4,978,030 )     10,912,284     $ (0.46 )

 

    For the year ended June 30, 2016  
      Net Income       Shares       Per Share  
Basic income per share:                        
Net income available to common shareholders   $ 3,402,761       10,391,157     $ 0.33  
Effect of dilutive securities                        
Stock options     -       190,595       -  
Warrants     -       3,083       -  
Diluted income per share   $ 3,402,761       10,584,835     $ 0.32  

 

As of June 30, 2017 and 2016, the following potential dilutive shares were excluded from the shares used to calculate diluted earnings per share as their inclusion would be anti-dilutive.

 

    2017     2016  
             
Stock Options     475,133       -  
Share Grants     449,950       -  
      925,083       -