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Earnings per share

6 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Earnings per share

Note 10 – Earnings per share

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


		Three Months Ended December 31,								Six Months Ended December 31,
		2021				2020				2021				2020
Numerator:
Net Income		$	797,861			$	575,476			$	1,685,389			$	1,337,472

Denominator:
Weighted-average shares used in computing basic and diluted earnings per share*
Basic			26,491,103				20,204,496				26,487,816				20,204,496
Diluted			26,491,103				20,204,496				26,487,816				20,204,496

Earnings per share:
Basic		$	0.030			$	0.028			$	0.064			$	0.066
Diluted		$	0.030			$	0.028			$	0.064			$	0.066

*	On November 16, 2020, the Company implemented a 2-for-1 forward split of the issued and outstanding shares of Class A Common Stock of the Company. The computation of basic and diluted EPS was retroactively adjusted for all periods presented.

*	The computation of basic and diluted EPS did not include the Class B Common Stock as the holders of Class B Common Stock have no dividend or liquidation right until such time as their shares of Class B Common Stock have been converted into Class A Common Stock.

*	The computation of diluted EPS did not include the underlying shares of warrants calculated using treasury method for the three and six months ended December 31, 2021 as the exercise price was greater than the market price of the shares.

*

For the three and six months ended December 31, 2021, the 51,232 vested shares of restricted stock units under the Amended and Restated 2020 Equity Incentive Plan (as discussed in Note 11) are considered issued shares and therefore are included in the computation of basic earnings (loss) per share as of grant date when the shares are fully vested. Impact of nonvested RSU is immaterial to the EPS.