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Income (Loss) Per Share
 9 Months Ended
Mar. 31, 2014
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)     (Unaudited)  
    Three months ended     Nine months ended  
    March 31,     March 31,  
    2014     2013     2014     2013  
                         
Net income (loss)   $ (133,322 )   $ 217,094     $ (415,700 )   $ 459,087  
                                 
Weighted average common shares outstanding:                                
Basic     14,292,976       11,883,042       13,905,376       11,818,408  
                                 
Effect of dilutive securities:                                
Options to purchase common stock     —       —       —       1,092  
Restricted stock units     —       834,700       —       834,700  
Common  stock warrants     —       —       —       17,272  
Diluted     14,292,976       12,717,742       13,905,376       12,671,472  
                                 
Earnings (Loss) per common share:                                
Basic   $ (0.01 )   $ 0.02     $ (0.03 )   $ 0.04  
Diluted   $ (0.01 )   $ 0.02     $ (0.03 )   $ 0.04  
                                 
Excluded from computation:                                
Options to purchase common stock     654,158       600,645       654,158       599,553  
Restricted stock units     856,300       —       856,300       —  
Common  stock warrants     2,127,230       3,756,771       2,127,230       3,739,499  
      3,637,688       4,357,416       3,637,688       4,339,052