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Earnings per share
 9 Months Ended
Mar. 31, 2022
Earnings Per Share [Abstract]  
Earnings per share

Note 14 – Earnings per share

 

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

                    
   Three Months Ended March 31,   Nine Months Ended March 31, 
   2022   2021   2022   2021 
Numerator:                    
Net Income  $1,181,757   $(206,823)  $2,867,146   $1,130,649 
                     
Denominator:                    
Weighted-average shares used in computing basic and diluted earnings per share*                    
Basic   28,045,130    20,204,496    26,999,342    20,204,496 
Diluted   28,045,130    20,204,496    26,999,342    20,204,496 
                     
Earnings per share:                    
Basic  $0.042   $(0.010)  $0.106   $0.056 
Diluted  $0.042   $(0.010)  $0.106   $0.056 

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*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 nine months ended March 31, 2022 as the exercise price was greater than the market price of the shares.

 

*For the three and nine months ended March 31, 2022, the 107,625 vested shares of restricted stock units under the Amended and Restated 2020 Equity Incentive Plan (as discussed in Note 15) 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.