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Earnings Per Share

12 Months Ended

Jun. 30, 2017

11. 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,
	2017		2016

Net income	$	7,703,086	$	1,414,615

Basic number of shares		20,001,868		15,401,893

Options to purchase common stock		142,482		71,859
RSUs		1,167,540		944,274
Common stock warrants		354,502		457,357
Diluted number of shares		21,666,392		16,875,383

Earnings per common share:
Basic	$	0.39	$	0.09
Diluted	$	0.36	$	0.08

The following potential dilutive shares were not included in the computation of diluted earnings per share as their effects would be anti-dilutive:

Options to purchase common stock	378,278	718,684
RSUs	289,036	289,982
Common stock warrants	518,087	848,927
	1,185,401	1,857,593