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Earnings Per Share | 9 Months Ended
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Mar. 31, 2018
Earnings Per Share [Abstract] |
Earnings Per Share | NOTE 3 – EARNINGS PER SHARE Basic earnings per share are computed based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding stock options and stock awards. The components of basic and diluted earnings per share were as follows:
|  | For the three months ended March 31, 2018 |  |  | For the nine months ended March 31, 2018 |
|  | Net Income |  |  | Shares |  |  | Per Share |  |  | Net Income |  |  | Shares |  |  | Per Share |
Basic income per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income available to common shareholders |  | $ | 2,864,445 |  |  |  | 11,190,048 |  |  | $ | 0.26 |  |  | $ | 3,129,368 |  |  |  | 11,118,529 |  |  | $ | 0.28 |
Effect of dilutive securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock options |  |  | - |  |  |  | 78,794 |  |  |  | - |  |  |  | - |  |  |  | 33,836 |  |  |  | - |
Diluted income per share |  | $ | 2,864,445 |  |  |  | 11,268,842 |  |  | $ | 0.25 |  |  | $ | 3,129,368 |  |  |  | 11,152,365 |  |  | $ | 0.28 |
|  | For the three months ended March 31, 2017 |  |  | For the nine months ended March 31, 2017 |
|  | Net Income |  |  | Shares |  |  | Per Share |  |  | Net Loss |  |  | Shares |  |  | Per Share |
Basic income (loss) per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) available to common shareholders |  | $ | 699,968 |  |  |  | 10,987,214 |  |  | $ | 0.06 |  |  | $ | (1,854,537 | ) |  |  | 10,850,538 |  |  | $ | (0.17 | )
Effect of dilutive securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock options |  |  | - |  |  |  | 134,406 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Diluted income (loss) per share |  | $ | 699,968 |  |  |  | 11,121,620 |  |  | $ | 0.06 |  |  | $ | (1,854,537 | ) |  |  | 10,850,538 |  |  | $ | (0.17 | )
The following potential dilutive shares were excluded from the shares used to calculate diluted earnings per share as their inclusion would be anti-dilutive.
|  | For the Three Months |  |  | For the Nine Months |
|  | Ended March 31, |  |  | Ended March 31, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
Stock Options |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 480,133 |
Share Grants |  |  | 243,684 |  |  |  | 542,361 |  |  |  | 243,684 |  |  |  | 542,361 |
|  |  | 243,684 |  |  |  | 542,361 |  |  |  | 243,684 |  |  |  | 1,022,494 |

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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 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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