XML 28 R16.htm IDEA: XBRL DOCUMENT

Earnings (Loss) Per Share

9 Months Ended

Mar. 31, 2019

Basic earnings per share is computed by dividing net income or loss 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 of Class A common stock are presented in the following table:

	Three Months Ended March 31,					Nine Months Ended March 31,
	2019			2018		2019			2018

Net income (loss)	$	(352,018	)	$	1,226,279	$	(918,633	)	$	1,867,324

Weighted-average common shares outstanding:
Basic number of shares		25,810,681			25,546,512		25,788,286			24,763,458

Effect of dilutive securities:
Options to purchase common stock		-			295,055		-			355,858
RSUs		-			1,439,443		-			1,381,190
Common stock warrants		-			-		-			118,450
Diluted number of shares		25,810,681			27,281,010		25,788,286			26,618,956

Earnings (loss) per common share:
Basic	$	(0.01	)	$	0.05	$	(0.04	)	$	0.08
Diluted	$	(0.01	)	$	0.04	$	(0.04	)	$	0.07

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

	Three Months Ended March 31,				Nine Months Ended March 31,
	2019		2018		2019		2018

Options to purchase common stock		985,842		748,326		999,612		732,350
RSUs		1,864,526		209,911		1,755,893		208,138
Common stock warrants		-		-		-		108,924
		2,850,368		958,237		2,755,505		1,049,412