Note 2 - Earnings Per Share (Tables)

9 Months Ended

Feb. 29, 2024

Notes Tables

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

	2024		2023
For the nine months ended February 29(28):
Preferred stock convertible into common stock		3,333,333		-
For the three months ended February 29(28):
Preferred stock convertible into common stock		3,333,333		-

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	2024		2023
Basic earnings per share of common stock:
Numerator -
Net income attributable to common stockholders	$	2,567,830	$	4,471,124
Denominator -
Weighted-average shares outstanding - basic		28,279,701		28,279,701
Income per share of common stock - basic	$	0.09	$	0.16
Diluted earnings per share of common stock:
Numerator -
Net income attributable to common stockholders	$	2,567,830	$	4,471,124
Add: Preferred stock dividends for assumed conversion		-		361,267
Net income allocated to common stockholders	$	2,567,830	$	4,832,391
Denominator -
Weighted-average shares outstanding – basic		28,279,701		28,279,701
Incremental shares from assumed conversion of warrants and preferred stock, as appropriate		495,000		3,825,723
Weighted average common stock outstanding – diluted		28,774,701		32,105,424
Income per share of common stock – diluted	$	0.09	$	0.15

	2024		2023
Basic earnings per share of common stock:
Numerator -
Net income attributable to common stockholders	$	151,456	$	3,562,996
Denominator -
Weighted-average shares outstanding - basic		28,279,701		28,279,701
Income per share of common stock - basic	$	0.01	$	0.13
Diluted earnings per share of common stock:
Numerator -
Net income attributable to common stockholders	$	151,456	$	3,562,996
Add: Preferred stock dividends for assumed conversion		-		132,500
	$	151,456	$	3,695,496
Denominator -
Weighted-average shares outstanding - basic		28,279,701		28,279,701
Incremental shares from assumed conversion of warrants and preferred stock, as appropriate		495,455		3,824,564
Weighted average common stock outstanding – diluted		28,775,156		32,104,265
Income per share of common stock - diluted	$	0.01	$	0.12