Note 3 - Earnings (Loss) Per Share

9 Months Ended

Feb. 28, 2026

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 3. Earnings (Loss) Per Share

Basic earnings (loss) 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 (loss) 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 (loss) 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 1,933,333 shares of common stock, was not included in the computation of diluted earnings per share for the nine months and three months ended February 28, 2025 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 nine months and three months ended February 28, 2026. Warrants exercisable into common stock totaling $500,000 were also not included in the computation of diluted loss per share for the nine months and three months ended February 28, 2026, respectively, as the effect would have been antidilutive. 

The following tables set forth the computation of basic and diluted (loss) earnings per share.

For the nine months ended:

	February 28,			February 28,
	2026			2025
Numerator -
Net income (loss) ttributable to common stockholders	$	(5,965,195	)	$	691,942
Denominator -
Weighted-average shares outstanding - basic		27,273,160			28,220,051
earnings (loss) per share of common stock - basic	$	(0.22	)	$	0.02
Diluted earnings (loss) per share of common stock:
Numerator -
Net income (loss) attributable to common stockholders	$	(5,965,195	)	$	691,942
Denominator -
Weighted-average shares outstanding - basic		27,273,160			28,220,051
Incremental shares from assumed conversion of options warrants and preferred stock, as appropriate		-			495,892
Weighted average common stock outstanding - diluted		27,273,160			28,715,943
Earnings (loss) per share of common stock - diluted	$	(0.22	)	$	0.02

For the three months ended:

	February 28,			February 28,
	2026			2025
Numerator -
Net income (loss) attributable to common stockholders	$	(2,802,078	)	$	849,867
Denominator -
Weighted-average shares outstanding - basic		27,270,701			28,097,494
earnings (loss) per share of common stock - basic	$	(0.10	)	$	0.03
Diluted earnings (loss) per share of common stock:
Numerator -
Net income (loss) attributable to common stockholders	$	(2,802,078	)	$	849,867
Denominator -
Weighted-average shares outstanding - basic		27,270,701			28,097,494
Incremental shares from assumed conversion of options warrants and preferred stock, as appropriate		-			495,099
Weighted average common stock outstanding - diluted		27,270,701			28,592,593
Earnings (Loss) per share of common stock - diluted	$	(0.10	)	$	0.03