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Earnings Per Share
 12 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

NOTE 16 – EARNINGS PER SHARE

 

The following table sets forth the computation of basic and diluted earnings per share for the periods indicated:

 

   For the years ended June 30, 
   2023   2022   2021 
             
Basic earnings per share calculation:            
Numerator:            
Net income attributable to common shares  $192,529   $4,455,428   $6,816,572 
Denominator:               
Weighted average common shares outstanding   23,153,976    20,924,683    17,279,443 
Basic earnings per share attributable to common shares  $0.01   $0.21   $0.39 
Diluted earnings per share calculation:               
Numerator:               
Net income attributable to common shares for calculating diluted earnings per share  $192,529   $4,455,428   $6,816,572 
Denominator:               
Weighted average common shares outstanding   23,153,976    20,924,683    17,279,443 
Weighted average common shares equivalents:               
Effects of dilutive securities               
Warrants   
-
    
-
    
-
 
Share options   
-
    
-
    179,479 
RSUs   
-
    132,380    110,518 
Shares used in computing diluted earnings per share attributable to common shares   23,153,976    21,057,063    17,569,440 
Diluted earnings per share attributable to common shares  $0.01   $0.21   $0.39 

 

For the years ended June 30, 2022 and 2023, warrants and options were out-of-the-money with no dilutive effect. For the year ended June 30, 2021, warrants were out-of-the-money with no dilutive effect.  The effects of the outstanding RSUs were anti-dilutive and excluded from the computation of diluted earnings per share for the year ended June 30, 2023.