Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

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Earnings Per Share
 3 Months Ended
Sep. 30, 2018
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, 2018  
    Net Income     Shares     Per Share  
Basic income per share: Net income available to common shareholders   $ 962,589       11,502,616     $ 0.08  
Effect of dilutive securities Share grants     -       5,114       -  
Diluted income per share   $ 962,589       11,507,730     $ 0.08  

 

    For the three months ended September 30, 2017  
    Net Loss     Shares     Per Share  
                   
Basic loss per share: Net loss available to common shareholders   $ (369,498 )     11,099,113     $ (0.03 )
Effect of dilutive securities Stock options     -       -       -  
Diluted loss per share   $ (369,498 )     11,099,113     $ (0.03 )

 

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  
    Ended September 30,  
    2018     2017  
             
Stock Options     53,462       438,360  
Share Grants     -       348,228  
      53,462       786,588