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Earnings Per Share

9 Months Ended

Mar. 31, 2018

Basic earnings 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 computations for basic and diluted earnings per share are described in the following table:

	Three Months Ended				Nine Months Ended
	March 31,				March 31,
	2018		2017		2018		2017

Net income	$	1,226,279	$	100,824	$	1,867,324	$	1,338,987

Weighted-average common shares outstanding:
Basic number of shares		25,546,512		23,818,136		24,763,458		18,621,072

Effect of dilutive securities:
Options to purchase common stock		295,055		208,429		355,858		92,094
RSUs		1,439,443		1,267,572		1,381,190		1,139,142
Common stock warrants		-		334,566		118,450		293,668
Diluted number of shares		27,281,010		25,628,703		26,618,956		20,145,976

Earnings per common share:
Basic	$	0.05	$	0.00	$	0.08	$	0.07
Diluted	$	0.04	$	0.00	$	0.07	$	0.07

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

	Three Months Ended				Nine Months Ended
	March 31,				March 31,
	2018		2017		2018		2017
Options to purchase common stock		748,326		833,701		732,350		868,209
RSUs		209,911		262,983		208,138		300,096
Common stock warrants		-		531,925		108,924		683,744
		958,237		1,628,609		1,049,412		1,852,049