Three Months Ended March 31,

Nine Months Ended March 31,

(in thousands, except for per share amounts)

2022

2021

2022

2021

Net income

$

2,707

$

626

$

14,038

$

15,263

Less: Series B dividends and accretion

-

1,446

-

4,760

Less: (loss) income allocable to noncontrolling interest

(73

)

53

(138

)

343

Net income (loss) allocable to common shareholders

$

2,780

$

(873

)

$

14,176

$

10,160

Numerator – Basic EPS

Net income (loss) allocable to common shareholders

$

2,780

$

(873

)

$

14,176

$

10,160

Less: net income allocated to participating securities (Series B)

-

1,752

Net income (loss) allocated to common shareholders

$

2,780

$

(873

)

$

14,176

$

8,408

Numerator – Diluted EPS

Net income (loss) allocated to common shareholders

$

2,780

$

(873

)

$

14,176

$

8,408

Add: net income attributable to convertible debt

-

147

Reallocation of income under the two-class method

-

44

Net income (loss) allocated to common shareholders

$

2,780

$

(873

)

$

14,176

$

8,599

Denominator – Basic Common Shares

Weighted average common shares outstanding - Basic

61,410

21,921

60,773

21,921

Denominator – Diluted Common Shares

Effect of dilutive securities:

Stock options

-

406

Convertible debt

-

2,237

Weighted average common shares - Diluted

61,410

21,921

60,773

24,564

Net income (loss) per share – basic:

Common Shares

$

0.05

$

(0.04

)

$

0.23

$

0.38

Net income (loss) per share – diluted:

Common Shares

$

0.05

$

(0.04

)

$

0.23

$

0.35