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Earnings Per Share

12 Months Ended

Jun. 30, 2019

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 (loss) per common share are described in the following table:

	Year Ended June 30,
	2019			2018

Net income (loss)	$	(2,680,323	)	$	1,060,104

Weighted-average common shares outstanding:
Basic number of shares		25,794,669			25,006,467

Effect of dilutive securities:
Options to purchase common stock		-			331,985
RSUs		-			1,387,348
Common stock warrants		-			85,668
Diluted number of shares		25,794,669			26,811,468

Earnings (loss) per common share:
Basic	$	(0.10	)	$	0.04
Diluted	$	(0.10	)	$	0.04

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

	Year Ended June 30,
	2019		2018
Options to purchase common stock		999,612		739,864
RSUs		1,755,893		216,946
Common stock warrants		-		85,018
		2,755,505		1,041,828