Three Months Ended May 31,

Nine Months Ended May 31,

Numerator:

2021

2020

2021

2020

Net income (loss) attributable to NTIC

$

2,053,916

$

(965,221

)

$

4,628,890

$

427,163

Denominator:

Basic – weighted shares outstanding

9,109,861

9,099,990

9,107,243

9,096,981

Weighted shares assumed upon exercise of stock options

862,139

—

721,809

215,933

Diluted – weighted shares outstanding

9,972,000

9,099,990

9,829,052

9,312,914

Basic net income (loss) per share:

$

0.23

$

(0.11

)

$

0.51

$

0.05

Diluted net income (loss) per share:

$

0.21

$

(0.11

)

$

0.47

$

0.05