NOTE 15. EARNINGS PER SHARE

The following table sets forth the computation for basic and diluted earnings per share (EPS):

	Year Ended June 30,
(dollars in thousands, except per share data)	2020			2019
Loss from Continuing Operations	$	(4,464	)	$	(3,292	)

Loss from Discontinued Operations		(338	)		(147	)
Less: Net Loss Attributable to Non-Controlling Interest from Discontinued Operations		(118	)		(51	)
Net Loss Attributable from Discontinued Operations to U.S. Global Investors, Inc.		(220	)		(96	)

Net Loss Attributable to U.S. Global Investors, Inc.	$	(4,684	)	$	(3,388	)

Weighted average number of outstanding shares
Basic		15,108,394			15,138,351
Effect of dilutive securities :
Employee stock options		-			-
Diluted		15,108,394			15,138,351

Earnings Per Share Attributable to U.S. Global Investors, Inc.
Basic Net Loss per Share
Loss from continuing operations	$	(0.30	)	$	(0.22	)
Loss from discontinued operations	$	(0.01	)	$	-
Net loss	$	(0.31	)	$	(0.22	)
Diluted Net Loss per Share
Loss from continuing operations	$	(0.30	)	$	(0.22	)
Loss from discontinued operations	$	(0.01	)	$	-
Net loss	$	(0.31	)	$	(0.22	)

The diluted EPS calculation excludes the effect of stock options when their exercise prices exceed the average market price for the period. For the years ended June 30, 2020, and 2019, 2,000 and 4,000 employee stock options, respectively, were excluded from diluted EPS.

During fiscal years 2020 and 2019, the Company repurchased class A shares on the open market. Repurchased shares are classified as treasury shares and are deducted from outstanding shares in the earnings per share calculation.