Note 2 - Earnings (Loss) Per Share

3 Months Ended

Aug. 31, 2025

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 2. Earnings (Loss) Per Share

Basic earnings (loss) per share is based on the weighted-average effect of all common shares issued and outstanding and is calculated by dividing net income (loss) attributable to common stockholders by the weighted-average shares outstanding during the period. Diluted earnings per share is calculated by dividing net income (loss) attributable to common stockholders by the weighted-average number of common shares used in the basic earnings per share calculation plus the number of common shares that would be issued assuming exercise or conversion of all potentially dilutive common shares outstanding.

Greystone's Series 2003 preferred stock, which is convertible into 3,333,333 shares of common stock, was not included in the computation of diluted earnings (loss) per share for the three months ended August 31, 2024 as the effect would have been antidilutive. As of May 31, 2025, all preferred stock had been retired and was therefore not included in the computation for the three months ended August 31, 2025. 

The following tables set forth the computation of basic and diluted earnings (loss) per share for the three months ended August 31:

	2025			2024
Basic earnings (loss) per share of common stock:
Numerator -
Net income (loss) attributable to common stockholders	$	(1,099,022	)	$	187,372
Denominator -
Weighted-average shares outstanding - basic		27,278,050			28,279,701
Income (loss) per share of common stock - basic	$	(0.04	)	$	0.01
Diluted earnings (loss) per share of common stock:
Numerator -
Net income (loss) attributable to common stockholders	$	(1,099,022	)	$	187,372
Denominator -
Weighted-average shares outstanding - basic		27,278,050			28,279,701
Incremental shares from assumed conversion of options warrants and preferred stock, as appropriate		496,055			496,295
Weighted average common stock outstanding - diluted		27,774,105			28,775,996
Income (Loss) per share of common stock - diluted	$	(0.04	)	$	0.01