Annual report pursuant to Section 13 and 15(d)

Earnings Per Share (Tables)

v3.5.0.2
Earnings Per Share (Tables)
12 Months Ended
Jun. 30, 2016
Earnings Per Share [Abstract]  
Components of Basic and Diluted Earnings Per Share

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

 

    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  

 

    For the year ended June 30, 2015  
    Net Loss     Shares     Per Share  
Basic loss per share:                        
Net loss available to common shareholders   $ (5,548,818 )     9,728,122     $ (0.57 )
Effect of dilutive securities                        
Stock options     -       -       -  
Warrants     -       -       -  
Diluted loss per share   $ (5,548,818 )     9,728,122     $ (0.57 )

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

As of June 30, 2016 and 2015, the following potential dilutive shares were excluded from the shares used to calculate diluted earnings per share as their inclusion would be anti-dilutive.

 

    2016     2015  
             
Stock Options     -       708,133  
Warrants     -       163,124  
      -       871,257