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Earnings Per Share | 12 Months Ended
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Jun. 30, 2018
Earnings Per Share [Abstract] |
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, |
|  | 2018 |  |  | 2017 |
Net income |  | $ | 1,060,104 |  |  | $ | 7,703,086 |
Weighted-average common shares outstanding: |  |  |  |  |  |  |  |
Basic number of shares |  |  | 25,006,467 |  |  |  | 20,001,868 |
Effect of dilutive securities: |  |  |  |  |  |  |  |
Options to purchase common stock |  |  | 331,985 |  |  |  | 142,482 |
RSUs |  |  | 1,387,348 |  |  |  | 1,167,540 |
Common stock warrants |  |  | 85,668 |  |  |  | 354,502 |
Diluted number of shares |  |  | 26,811,468 |  |  |  | 21,666,392 |
Earnings per common share: |  |  |  |  |  |  |  |
Basic |  | $ | 0.04 |  |  | $ | 0.39 |
Diluted |  | $ | 0.04 |  |  | $ | 0.36 |
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 |  |  | 739,864 |  |  |  | 378,278 |
RSUs |  |  | 216,946 |  |  |  | 289,036 |
Common stock warrants |  |  | 85,018 |  |  |  | 518,087 |
|  |  | 1,041,828 |  |  |  | 1,185,401 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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