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Earnings Per Share

12 Months Ended

Jun. 30, 2020

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,
		2020				2019

Net income (loss)		$	866,929			$	(2,680,323	)

Weighted-average common shares outstanding:
Basic number of shares			25,853,419				25,794,669

Effect of dilutive securities:
Options to purchase common stock			7,026				-
RSUs			1,609,400				-
Diluted number of shares			27,469,845				25,794,669

Earnings (loss) per common share:
Basic		$	0.03			$	(0.10	)
Diluted		$	0.03			$	(0.10	)

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

		Year Ended June 30,
		2020				2019
Options to purchase common stock			918,951				999,612
RSUs			518,610				1,755,893
			1,437,561				2,755,505