Earnings Per Share

6 Months Ended

Dec. 31, 2019

NOTE 3 – Earnings Per Share

Earnings per share is based on net income divided by the weighted average number of shares outstanding during the period. Earnings per share is presented for the three and six month periods ended December 31, 2019 and 2018.


	Three Months Ended		Three Months Ended	Six Months Ended		Six Months Ended
	December 31, 2019		December 31, 2018	December 31, 2019		December 31, 2018
Net income	$	361,883	*	$	929,779	*
Basic potential common shares
Weighted average shares outstanding		2,624,343	*		2,624,343	*
Basic weighted average shares outstanding		2,624,343	*		2,624,343	*
Diluted potential common shares		—	*		—	*
Diluted weighted average shares outstanding		2,624,343	*		2,624,343	*
Basic earnings per share	$	0.14	*	$	0.35	*
Diluted earnings per share	$	0.14	*	$	0.35	*

* Earnings per share for the three and six months ended December 31, 2018 is not applicable as no shares were outstanding for that period.