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Basic and Diluted Earnings Per Share
 12 Months Ended
Jun. 30, 2024
Basic and Diluted Earnings Per Share [Abstract]  
Basic and diluted earnings per share

Note 21 — Basic and diluted earnings per share

 

Basic EPS is measured as net income divided by the weighted average common shares outstanding for the period. Diluted net income per share attributable to common stockholders adjusts basic earnings per share for the potentially dilutive impact of non-participating shares of common stock that are subject to the convertible note, and other securities outstanding. Certain securities may be anti-dilutive and would be excluded from the calculation of diluted earnings per share and disclosed separately. Because of the nature of the calculation, particular securities may be dilutive in some periods and anti-dilutive in other periods.

 

The following table presents the computation of basic and diluted earnings per share attributable to common stockholders, for the periods presented:

 

   For the Years Ended
June 30,		 
   2024   2023 
Net (loss) income – basic EPS  $(3,430,642)  $58,191 
Interest expenses incurred on the convertible note   264,445    3,500 
Net (loss) income – diluted EPS  $(3,166,197)  $61,691 
           
Basic weighted average shares outstanding   1,000,000    1,000,000 
Dilutive effect of convertible note*   
—
    1,648 
Diluted weighted average number of shares outstanding   1,000,000    1,001,648 
           
Basic (loss) earnings per share  $(3.43)  $0.06 
Diluted (loss) earnings per share  $(3.43)  $0.06 

 

*

There are 208,932 shares of Common Stock that is potentially convertible from the convertible notes that was excluded from the computation of diluted EPS for the period presented because it has anti-dilutive effect as the company had a net loss during the year ended June 30, 2024.

 

Other than the Company’s outstanding convertible notes having a dilutive effect on its EPS, the Company did not have any other dilutive securities and other contracts that could, potentially, be exercised or converted into common stock and then share in the earnings of the Company.