Earnings Per Share

3 Months Ended

Aug. 31, 2017

Earnings Per Share [Abstract]

Earnings Per Share

Note 2. Earnings Per Share

Basic earnings 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 excludes equity instruments from the calculation of diluted earnings per share if the effect of including such instruments is anti-dilutive. For the three months ended August 31, 2017, equity instruments which have been excluded are Greystone’s convertible preferred stock which is convertible into 3,333,333 shares of common stock. For the three months ended August 31, 2016, equity instruments which have been excluded are Greystone’s convertible preferred stock which is convertible into 3,333,333 shares of common stock and stock options to purchase 200,000 shares of common stock.

The following table sets forth the computation of basic and diluted earnings per share for the three months ended August 31:

	2017		2016
Numerator -
Net income (loss) attributable to common stockholders	$	374,708	$	(117,439	)
Denominator -
Weighted-average shares outstanding - basic		28,361,201		28,202,884
Incremental shares from assumed conversion of options and warrants		618,539		-
Diluted shares		28,979,740		28,202,884
Income (Loss) per share of common stock -
Basic and Diluted	$	0.01	$	(0.00	)