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EARNINGS PER SHARE
 3 Months Ended
Sep. 30, 2021
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

NOTE 4 – 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 September 30, 2021 
   Net Income   Shares   Per Share 
Basic income per share:               
Net income available to common shareholders  $187,969    11,254,205   $0.02 
Effect of dilutive securities               
Share grants   -    -    - 
Diluted income per share  $187,969    11,254,205   $0.02 
                
    For the three months ended September 30, 2020 
    Net Income    Shares    Per Share 
                
Basic income per share:               
Net income available to common shareholders  $717,554    11,787,233   $0.06 
Effect of dilutive securities               
Share grants   -    -    - 
Diluted income per share  $717,554    11,787,233   $0.06