(Loss) Income per Common and Common Stock Equivalent Share

9 Months Ended

Mar. 31, 2024

(Loss) Income per Common and Common Stock Equivalent Share [Abstract]

(Loss) Income per Common and Common Stock Equivalent Share

6. (LOSS) INCOME PER COMMON AND COMMON STOCK EQUIVALENT SHARE

Basic (loss) income per common share is computed based on the weighted-average number of common shares outstanding. Diluted (loss) income per common share is calculated assuming the exercise of stock options except where the result would be anti-dilutive. The following table reconciles the numerator and denominator used to calculate basic and diluted (loss) income per share:

	Three Months Ended March 31,				Nine Months Ended March 31,
	2024		2023		2024		2023
Numerator
Net (loss) income	$	(313,780)	$	(224,480)	$	(840,542)	$	8,579,052
Denominator
Weighted average shares, basic		9,254,795		9,206,135		9,243,559		9,183,042
Dilutive effect of stock compensation awards (1)		—		—		—		608,585
Diluted shares		9,254,795		9,206,135		9,243,559		9,791,627
Net (loss) income attributable to common shareholders per share:
Basic	$	(0.03)	$	(0.02)	$	(0.09)	$	0.93
Diluted	$	(0.03)	$	(0.02)	$	(0.09)	$	0.88

(1) Excludes 700,911, 729,384, and 999,557 weighted average stock options during the three and nine months ended March 31, 2024 and the three months ended March 31, 2023, respectively, as the impact of such awards was anti-dilutive. For the nine months ended March 31, 2023, no stock options were anti-dilutive.