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Earnings Per Share | 12 Months Ended
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Jun. 30, 2016
Earnings Per Share [Abstract] |
Earnings Per Share |
9. | Earnings Per Share
Basic earnings per share is computed by dividing net income by 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 computations for basic and diluted earnings per share are described in the following table:
|  | Year ended June 30,
|  | 2016 |  | 2015
Net income (loss) |  | $ | 1,414,615 |  |  | $ | (715,280 | )
Weighted average common shares outstanding: |  |  |  |  |  |  |  |
Basic |  |  | 15,401,893 |  |  |  | 14,711,586 |
Effect of dilutive securities: |  |  |  |  |  |  |  |
Options to purchase common stock |  |  | 71,859 |  |  |  | — |
Restricted stock units |  |  | 944,274 |  |  |  | — |
Common stock warrants |  |  | 457,357 |  |  |  | — |
Diluted |  |  | 16,875,383 |  |  |  | 14,711,586 |
Earnings (Loss) per common share: |  |  |  |  |  |  |  |
Basic |  | $ | 0.09 |  |  | $ | (0.05 | )
Diluted |  | $ | 0.08 |  |  | $ | (0.05 | )
Excluded from computation: |  |  |  |  |  |  |  |
Options to purchase common stock |  |  | 718,684 |  |  |  | 703,721 |
Restricted stock units |  |  | 289,982 |  |  |  | 1,002,700 |
Common stock warrants |  |  | 848,927 |  |  |  | 1,916,671 |
|  |  | 1,857,593 |  |  |  | 3,623,092 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64863997&loc=d3e1278-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=64863997&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=65016374&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=63488584&loc=d3e20235-122688 + Details
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