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Net Income Per Share | 9 Months Ended
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Mar. 31, 2014
Net Income Per Share |
Net Income Per Share | Note 10 —Net Income Per Share The following table sets forth the computation of basic and diluted income per share:
|  | Three Months Ended March 31, |  | Nine Months Ended March 31, |
|  | 2014 |  | 2013 |  | 2014 |  | 2013 |
Numerator |  |  |  |  |  |  |  |  |
Net income available to common shareholders |  | $ | 755,125 |  | $ | 2,228,467 |  | $ | 1,481,542 |  | $ | 5,010,114 |
Denominator |  |  |  |  |  |  |  |  |
Weighted average number of common shares — Basic |  | 32,358,163 |  | 28,201,106 |  | 30,328,344 |  | 28,069,285 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |
Common stock warrants issued in connection with equity and financing transactions |  | — |  | 898 |  | — |  | 864 |
Stock Options and Incentive Warrants |  | 373,886 |  | 3,888,148 |  | 2,175,116 |  | 3,841,659 |
Total weighted average dilutive securities |  | 373,886 |  | 3,889,046 |  | 2,175,116 |  | 3,842,523 |
Weighted average number of common shares and dilutive potential common shares used in diluted EPS |  | 32,732,049 |  | 32,090,152 |  | 32,503,460 |  | 31,911,808 |
Net income per common share — Basic |  | $ | 0.02 |  | $ | 0.08 |  | $ | 0.05 |  | $ | 0.18 |
Net income per common share — Diluted |  | $ | 0.02 |  | $ | 0.07 |  | $ | 0.05 |  | $ | 0.16 |
Outstanding potentially dilutive securities as of March 31, 2014 were as follows:
Outstanding Potential Dilutive Securities |  | Weighted Average Exercise Price |  | Outstanding at March 31, 2014 |
Stock Options and Incentive Warrants |  | $ | 2.02 |  | 228,061 |
Outstanding potentially dilutive securities as of March 31, 2013 were as follows:
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 |  | $ | 1.82 |  | 5,342,820 |
Total |  | $ | 1.82 |  | 5,343,985 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
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