Earnings Per Share

6 Months Ended

Nov. 30, 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) available to common stockholders by the weighted-average shares outstanding during the period. Diluted earnings per share is calculated by dividing net income (loss) available 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, as follows:

	2017		2016
Six-month periods ended November 30:
Options to purchase common stock		-		200,000
Warrants to purchase common stock		-		500,000
Preferred stock convertible into common stock		3,333,333		3,333,333
Total		3,333,333		4,033,333
Three-month periods ended November 30:
Options to purchase common stock		200,000		-
Warrants to purchase common stock		500,000		-
Preferred stock convertible into common stock		3,333,333		3,333,333
Total		4,033,333		3,333,333

The following tables set forth the computation of basic and diluted earnings per share for the following periods:

	2017			2016
Six-month periods ended November 30:
Numerator -
Net income (loss) attributable to common stockholders	$	363,371		$	(76,330	)
Denominator -
Weighted-average shares outstanding - basic		28,361,201			28,283,332
Incremental shares from assumed conversion of options and warrants		627,500			-
Diluted shares		28,988,701			28,283,332
Loss per share -
Basic and Diluted	$	0.01		$	(0.00	)
Three-month periods ended November 30:
Numerator -
Net income (loss) attributable to common stockholders	$	(11,337	)	$	41,109
Denominator -
Weighted-average shares outstanding - basic		28,361,201			28,361,201
Incremental shares from assumed conversion of options and warrants		-			579,167
Diluted shares		28,361,201			28,940,368
Loss per share -
Basic and Diluted	$	(0.00	)	$	0.00