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Earnings Per Share
 12 Months Ended
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