Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.19.3
Earnings Per Share
 3 Months Ended
Sep. 30, 2019
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, 2019  
    Net Loss     Shares     Per Share  
Basic loss per share:                        
Net loss available to common shareholders   $ (1,827,947 )     11,664,239     $ (0.16 )
Effect of dilutive securities                        
Share grants     -       -       -  
Diluted loss per share   $ (1,827,947 )     11,664,239     $ (0.16 )

 

    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  

 

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,  
    2019     2018  
             
Stock Options     40,386       53,462  
Share Grants     138,052       -  
      178,438       53,462