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EARNINGS PER SHARE
 6 Months Ended
Dec. 31, 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 December 31, 2021   For the six months ended
December 31, 2021		 
   Net Income   Shares   Per Share   Net Income   Shares   Per Share 
Basic income per share:                              
Net income available to common shareholders  $1,406,785    11,244,539   $0.13   $1,594,754    11,249,372   $0.14 
Effect of dilutive securities                              
Share grants   -    -    -    -    -    - 
Diluted income per share  $1,406,785    11,244,539   $0.13   $1,594,754    11,249,372   $0.14 

 

   For the three months ended December 31, 2020   For the six months ended
December 31, 2020		 
   Net Loss   Shares   Per Share   Net Income   Shares   Per Share 
                         
Basic income (loss) per share:                              
Net income (loss) available to common shareholders  $(242,104)   11,580,030   $(0.02)  $475,450    11,683,631   $0.04 
Effect of dilutive securities                              
Share grants   -    -    -    -    -    - 
Diluted income per share  $(242,104)   11,580,030   $(0.02)  $475,450    11,683,631   $0.04 

 

For the three months ended December 31, 2020, 41,112 share grants were excluded from the shares used to calculate diluted earnings per share as their inclusion would have been anti-dilutive.