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Net Income Per Share (Tables)
9 Months Ended
Mar. 31, 2013
Net Income Per Share  
Schedule of computation of basic and diluted income per share

 

 

 

 

Three Months Ended March 31,

 

Nine Months Ended March 31,

 

 

 

2013

 

2012

 

2013

 

2012

 

Numerator

 

 

 

 

 

 

 

 

 

Net income available to common shareholders

 

$

2,228,467

 

$

1,299,525

 

$

5,010,114

 

$

3,575,158

 

 

 

 

 

 

 

 

 

 

 

Denominator

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of common shares — Basic

 

28,201,106

 

27,816,963

 

28,069,285

 

27,759,487

 

 

 

 

 

 

 

 

 

 

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

Common stock warrants issued in connection with equity and financing transactions

 

898

 

66,826

 

864

 

62,684

 

Stock Options and Incentive Warrants

 

3,888,148

 

3,901,395

 

3,841,659

 

3,735,981

 

Total weighted average dilutive securities

 

3,889,046

 

3,968,221

 

3,842,523

 

3,798,665

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of common shares and dilutive potential common shares used in diluted EPS

 

32,090,152

 

31,785,184

 

31,911,808

 

31,558,152

 

 

 

 

 

 

 

 

 

 

 

Net income per common share — Basic

 

$

0.08

 

$

0.05

 

$

0.18

 

$

0.13

 

Net income per common share — Diluted

 

$

0.07

 

$

0.04

 

$

0.16

 

$

0.11

 

Schedule of outstanding potentially dilutive securities

 

 

Outstanding Potential Dilutive Securities

 

Weighted
Average
Exercise Price

 

Outstanding at
March 31,
2013

 

 

 

 

 

 

 

Common stock warrants issued in connection with equity and financing transactions

 

$

2.25

 

1,165

 

Stock Options and Incentive Warrants

 

$

1.90

 

5,042,820

 

Total

 

$

1.90

 

5,043,985

 

 

Outstanding potentially dilutive securities as of March 31, 2012 were as follows:

 

Outstanding Potential Dilutive Securities

 

Weighted
Average
Exercise Price

 

Outstanding at
March 31,
2012

 

 

 

 

 

 

 

Common stock warrants issued in connection with equity and financing transactions

 

$

2.50

 

92,635

 

Stock Options and Incentive Warrants

 

$

1.83

 

5,372,820

 

Total

 

$

1.84

 

5,465,455