Note 3 - Basic and Diluted Net Income Per Share

9 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE 3. BASIC AND DILUTED NET INCOME PER SHARE

Basic net loss per share is based upon the weighted average number of common shares outstanding. Diluted net loss per share is based on the assumption that all dilutive convertible shares and stock options were converted or exercised. Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed to be exercised at the beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at the average market price during the period. The Company does

not

have any options or warrants.

Diluted net income per share reflects the effects of shares actually potentially issuable upon conversion of convertible preferred stock.

The components of basic and diluted earnings per share were as follows: 

	For the Three Months Ended March 31, 2020
	Net Income			Shares		Per Share
Basic income per share:
Net income available to common shareholders	$	(17,236	)		37,412,519	$	(0.00	)
Effect of dilutive securities
Preferred stock Series B		-			-		-
Diluted income per share	$	(17,236	)		37,412,519	$	(0.00	)

	For the Three Months Ended March 31, 2019
	Net Income		Shares		Per Share
Basic income per share:
Net income	$	75,884		34,045,383	$	0.00
Effect of dilutive securities
Preferred stock Series B		-		4,252,776		-
Diluted income per share	$	75,884		38,298,159	$	0.00

	For the Nine Months Ended March 31, 2020
	Net Income			Shares		Per Share
Basic income per share:
Net income available to common shareholders	$	(37,258	)		37,383,246	$	(0.00	)
Effect of dilutive securities
Preferred stock Series B		-			-		-
Diluted income per share	$	(37,258	)		37,383,246	$	(0.00	)

	For the Nine Months Ended March 31, 2019
	Net Income		Shares		Per Share
Basic income per share:
Net income	$	424,551		31,021,688	$	0.01
Effect of dilutive securities
Preferred stock Series B		-		7,276,471		-
Diluted income per share	$	424,551		38,298,159	$	0.01