EARNINGS (LOSS) PER SHARE

12 Months Ended

Jun. 30, 2022

EARNINGS (LOSS) PER SHARE

EARNINGS PER SHARE

NOTE 6       EARNINGS (LOSS) PER SHARE

The earnings (loss) per share for the years ended June 30, 2022 and 2021, respectively, was computed on the weighted average of outstanding common shares during the year as follows:

	For the Years Ended
	June 30,
	2022		2021
Net Income (Loss)	$	(21,369)	$	363,733
Preferred Dividend Requirements:
6% Prior Cumulative Preferred, $5 Par Value		60,000		60,000
5% Convertible Cumulative Preferred, $20 Par Value		68,072		68,072
Total Dividend Requirements		128,072		128,072
Net Income (Loss) attributable to Common Stockholders	$	(149,441)	$	235,661
Weighted Average Shares - Basic		969,834		969,834
Effect of Contingently Issuable Shares, if Dilutive		1,033,334		1,033,334
Weighted Average Shares - Diluted		2,003,168		2,003,168
Basic Earnings (Loss) per Share	$	(0.15)	$	0.24
Diluted Earnings (Loss) per Share	$	(0.15)	$	0.18

Contingently issuable shares were not included in the 2022 diluted earnings per common share as they would have an antidilutive effect upon earnings per share.

The following table details out the contingently issuable shares for the years ended June 30, 2022 and 2021. For 2022 and 2021, the contingently issuable shares were not included in diluted earnings per common share as they would have an antidilutive effect upon earnings per share.

	2022	2021
Shares Issuable Upon Conversion of Series A Prior Cumulative Preferred Stock	400,000	400,000
Shares Issuable Upon Conversion of Series B Prior Cumulative Preferred Stock	375,000	375,000
Shares Issuable Upon Conversion of Series A Cumulative Preferred Stock	222,133	222,133
Shares Issuable Upon Conversion of Series B Cumulative Preferred Stock	36,201	36,201
Total Dilutive Effect of Contingently Issuable Shares	1,033,334	1,033,334