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LOSS PER SHARE CALCULATION | 3 Months Ended
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Sep. 30, 2021
Earnings Per Share [Abstract] |
LOSS PER SHARE CALCULATION | LOSS PER SHARE CALCULATION Basic loss per share is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted earnings per share, applicable only to years ended with reported income, is computed by dividing net income by the weighted average number of common shares outstanding during the period plus the dilutive effect of outstanding stock options and restricted stock-based awards using the treasury stock method. The calculation of basic and diluted loss per share is presented below:
|  | Three months ended September 30,
($ in thousands, except per share data) |  | 2021 |  | 2020
Numerator for basic and diluted loss per share |  |  |  |
Net loss |  | $ | (1,291) |  |  | $ | (6,613) |
Preferred dividends |  | (334) |  |  | (334) |
Net loss applicable to common shareholders |  | (1,625) |  |  | (6,947) |
Denominator for basic loss per share - Weighted average shares outstanding |  | 71,175,927 |  |  | 64,859,002 |
Effect of dilutive potential common shares |  | — |  |  | — |
Denominator for diluted loss per share - Adjusted weighted average shares outstanding |  | 71,175,927 |  |  | 64,859,002 |
Basic and diluted loss per share |  | $ | (0.02) |  |  | $ | (0.11) |
Anti-dilutive shares excluded from the calculation of diluted loss per share were 4,212,024 for the three months ended September 30, 2021 and 2,534,225 for the three months ended September 30, 2020.

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