Earnings Per Share

3 Months Ended

Aug. 31, 2018

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 available to common stockholders by the weighted-average shares outstanding during the period. Diluted earnings per share is calculated by dividing net income 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. For the three months ended August 31, 2018 and 2017, equity instruments which have been excluded are Greystone’s convertible preferred stock which is convertible into 3,333,333 shares of common stock.

The following tables set forth the computation of basic and diluted earnings per share for the three months ended August 31, 2018 and 2017:

	2018		2017
Numerator -
Net income attributable to common stockholders	$	601,388	$	374,708
Denominator -
Weighted-average shares outstanding - basic		28,361,201		28,361,201
Incremental shares from assumed conversion of options and warrants		642,495		618,539
Diluted shares		29,003,696		28,979,740
Income per share -
Basic and Diluted	$	0.02	$	0.01