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Earnings Per Share (Tables) | 9 Months Ended
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Mar. 31, 2020
Earnings Per Share [Abstract] |
Schedule of Components of Basic and Diluted Earnings Per Share | The components of basic and diluted earnings per share were as follows:
|  | For the three months ended March 31, 2020 |  |  | For the nine months ended March 31, 2020 |
|  | Net Income |  |  | Shares |  |  | Per Share |  |  | Net Loss |  |  | Shares |  |  | Per Share |
Basic income (loss) per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) available to common shareholders |  | $ | 1,000,807 |  |  |  | 11,753,063 |  |  | $ | 0.09 |  |  | $ | (241,165 | ) |  |  | 11,713,827 |  |  | $ | (0.02 | )
Effect of dilutive securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock options |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Share grants |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Diluted income (loss) per share |  | $ | 1,000,807 |  |  |  | 11,753,063 |  |  | $ | 0.09 |  |  | $ | (241,165 | ) |  |  | 11,713,827 |  |  | $ | (0.02 | )
|  | For the three months ended March 31, 2019 |  |  | For the nine months ended March 31, 2019 |
|  | Net Income |  |  | Shares |  |  | Per Share |  |  | Net Income |  |  | Shares |  |  | Per Share |
Basic income per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income available to common shareholders |  | $ | 1,267,560 |  |  |  | 11,656,098 |  |  | $ | 0.11 |  |  | $ | 5,085,778 |  |  |  | 11,580,066 |  |  | $ | 0.44 |
Effect of dilutive securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock options |  |  | - |  |  |  | 4,948 |  |  |  | - |  |  |  | - |  |  |  | 5,686 |  |  |  | - |
Share grants |  |  | - |  |  |  | 30,296 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Diluted income per share |  | $ | 1,267,560 |  |  |  | 11,691,342 |  |  | $ | 0.11 |  |  | $ | 5,085,778 |  |  |  | 11,585,752 |  |  | $ | 0.44 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | 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, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Share Grants |  |  | 101,790 |  |  |  | - |  |  |  | 101,790 |  |  |  | - |
|  |  | 101,790 |  |  |  | - |  |  |  | 101,790 |  |  |  | - |

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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://fasb.org/us-gaap/role/ref/legacyRef -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/2009/role/commonPracticeRef -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 + Details
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