Net (Loss) Income Per Share (Tables)

12 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Computation of Basic and Diluted Net Loss Per Share Attributable to Common Stockholders

The following table presents the calculation of basic and diluted (loss) earnings per shares:

	June 30,
(in thousands, except for per share amounts)	2022			2021
Net income	$	(679	)	$	10,088
Less: Series B dividends and accretion		-			5,785
Less: income (loss) allocable to noncontrolling interest		(108	)		218
Net (loss) income allocable to common shareholders	$	(571	)	$	4,085
Numerator – Basic EPS
Net (loss) income allocable to common shareholders	$	(571	)	$	4,085
Less: net income allocated to participating securities (Series B)		-			613
Net (loss) income allocated to common shareholders	$	(571	)	$	3,472
Numerator – Diluted EPS
Net (loss) income allocated to common shareholders	$	(571	)	$	3,472
Add: net income attributable to convertible debt		-			175
Reallocation of income under the two-class method		-			(165	)
Net (loss) income allocated to common shareholders	$	(571	)	$	3,482
Denominator – Basic Common Shares
Weighted average common shares outstanding - Basic		60,673,789			24,696,828
Denominator – Diluted Common Shares
Effect of dilutive securities:
Stock options		-			404,567
Convertible debt		-			78,106
Weighted average common shares - Diluted		60,673,789			25,179,502
Net (loss) income per share – basic:
Common Shares	$	(0.01	)	$	0.14
Net (loss) income per share – diluted:
Common Shares	$	(0.01	)	$	0.14

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following securities have been excluded from the calculations of diluted earnings (loss) per share allocable to common shareholders because including them would have been antidilutive are, as follows:

	June 30,
	2022		2021
Shares subject to warrants to purchase common stock		25,818,247		-
Shares subject to options to purchase common stock		3,503,527		-
Total		29,321,774		-