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Net Income Per Share (Tables) | 9 Months Ended
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Mar. 31, 2017
Earnings Per Share [Abstract] |
Schedule of computation of basic and diluted 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,
| 2017 |  | 2016 |  | 2017 |  | 2016
Numerator |  |  |  |  |  |  |  |  |  |  |
Net income (loss) available to common shareholders | $ | 2,419,143 |  |  | $ | (298,183 | ) |  | $ | 5,290,122 |  |  | $ | 3,280,166 |
Denominator |  |  |  |  |  |  |  |  |  |  |
Weighted average number of common shares — Basic | 33,062,297 |  |  | 32,879,381 |  |  | 33,021,865 |  |  | 32,779,234 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |
Contingent restricted stock grants | 27,216 |  |  | — |  |  | 17,860 |  |  | 8,418 |
Stock options | 26,186 |  |  | — |  |  | 24,983 |  |  | 47,113 |
Weighted average number of common shares and dilutive potential common shares used in diluted EPS | 33,115,699 |  |  | 32,879,381 |  |  | 33,064,708 |  |  | 32,834,765 |
Net income (loss) per common share — Basic | $ | 0.07 |  |  | $ | (0.01 | ) |  | $ | 0.16 |  |  | $ | 0.10 |
Net income (loss) per common share — Diluted | $ | 0.07 |  |  | $ | (0.01 | ) |  | $ | 0.16 |  |  | $ | 0.10 |
Schedule of outstanding potentially dilutive securities | Outstanding potentially dilutive securities as of March 31, 2017 were as follows:
Outstanding Potentially Dilutive Securities |  | Weighted Average Exercise Price |  | At March 31, 2017
Contingent Restricted Stock grants |  | $ | — |  |  | 113,270 |
Stock Options |  | 2.19 |  |  | 35,231 |
Total outstanding potentially dilutive securities |  | $ | 0.52 |  |  | 148,501 |
Outstanding potentially dilutive securities as of March 31, 2016 were as follows:
Outstanding Potentially Dilutive Securities |  | Weighted Average Exercise Price |  | At March 31, 2016
Contingent Restricted Stock grants |  | $ | — |  |  | 91,172 |
Stock Options |  | 2.36 |  |  | 65,231 |
Total outstanding potentially dilutive securities |  | $ | 0.98 |  |  | 156,403 |

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- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + 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 (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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