Earnings Per Share

9 Months Ended

Mar. 31, 2020

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 nine month periods ended March 31, 2020 and 2019.


	Three Months Ended		Three Months Ended	Nine Months Ended		Nine Months Ended
	March 31, 2020		March 31, 2019	March 31, 2020		March 31, 2019
Net income	$	68,984	*	$	998,763	*
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	$	0.03	*	$	0.38	*
Diluted earnings per share	$	0.03	*	$	0.38	*

* Earnings per share for the three and nine months ended March 31, 2019 is not applicable as no shares were outstanding for that period.