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Income (Loss) Per Share
 3 Months Ended
Sep. 30, 2013
Income Loss Per Share  
Income (Loss) Per Share

8. Income (Loss) Per Share

 

Basic earnings (loss) per share is computed by dividing the weighted-average number of shares of Class A common stock outstanding, during each period presented. Diluted earnings per share is computed similarly to basic earnings per share except that it reflects the potential dilution that could occur if dilutive securities or other obligations to issue shares of Class A common stock were exercised or converted into shares of Class A common stock. The computation for basic and diluted loss per share are described in the following table:

 

   (Unaudited) 
   Three months ended 
   September 30, 
   2013   2012 
         
Net income (loss)  $(80,345)  $101,221 
           
Weighted average common shares outstanding:          
Basic   13,567,712    11,771,902 
           
Effect of dilutive securities:          
Restricted stock units   —    594,700 
Common  stock warrants   —    332,102 
Diluted   13,567,712    12,698,704 
           
           
Earnings (Loss) per common share:          
Basic  $(0.01)  $0.01 
Diluted  $(0.01)  $0.01 
           
           
Excluded from computation:          
Options to purchase common stock   576,393    583,109 
Restricted stock units   834,700    — 
Common  stock warrants   2,446,700    3,709,669 
Convertible debentures   —    706,169 
    3,857,793    4,998,947