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Net Income Per Share (Tables)

3 Months Ended

Sep. 30, 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 September 30,
	2017				2016
Numerator
Net income available to common shareholders	$	2,140,532			$	563,345
Denominator
Weighted average number of common shares — Basic	33,089,244				32,957,010
Effect of dilutive securities:
Contingent restricted stock grants	58,264				28,845
Stock options	—				21,744
Weighted average number of common shares and dilutive potential common shares used in diluted EPS	33,147,508				33,007,599
Net income per common share — Basic	$	0.06			$	0.02
Net income per common share — Diluted	$	0.06			$	0.02

Schedule of outstanding potentially dilutive securities

Outstanding potentially dilutive securities as of September 30, 2017 were as follows:

Outstanding Potentially Dilutive Securities	Weighted Average Exercise Price				At September 30, 2017
Contingent Restricted Stock grants	$	—			94,244

Outstanding potentially dilutive securities as of September 30, 2016 were as follows:

Outstanding Potentially Dilutive Securities	Weighted Average Exercise Price				At September 30, 2016
Contingent Restricted Stock grants	$	—			113,270
Stock Options	2.19				35,231
Total outstanding potentially dilutive securities	$	0.52			148,501

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- References

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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

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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

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