Earnings Per Share	12 Months Ended
Jun. 30, 2018
Earnings Per Share
Earnings Per Share	NOTE 9 – Earnings Per Share Net Income (Loss) Per Share – Basic and Diluted Basic earnings per share is computed by dividing net income available to common stockholders by the weighted-average number of shares of common stock outstanding during each period. Diluted earnings per share is computed by dividing net income available to common stockholders by the diluted weighted-average shares of common stock outstanding during each period. As a result of the Company’s net loss for the fiscal year ended June 30, 2018 and 2017, potentially dilutive stock options of approximately 106,462 and 376,755 were considered anti-dilutive and were excluded from the computation of diluted earnings per share. Rights Offering On February 28, 2018, the Company completed a Rights Offering for gross proceeds of $10.0 million for 5,000,000 shares of its common stock pursuant to a registration statement on Form S-1, as amended, that was previously filed and declared effective by the SEC on February 9, 2018. Of the 5,000,000 shares issued, 3,257,645 were issued to Everest Hill Group, the Company’s majority shareholder. With the completion of the Right’s Offering, Everest Hill Group holds approximately 52.7% of the Company’s outstanding common stock as of June 30, 2018. The Company received net proceeds of approximately $9.8 million from the Rights Offering after deducting offering costs payable by the Company. The proceeds were used for general corporate purposes.

NOTE 9 – Earnings Per Share

Net Income (Loss) Per Share – Basic and Diluted

Basic earnings per share is computed by dividing net income available to common stockholders by the weighted-average number of shares of common stock outstanding during each period. Diluted earnings per share is computed by dividing net income available to common stockholders by the diluted weighted-average shares of common stock outstanding during each period. As a result of the Company’s net loss for the fiscal year ended June 30, 2018 and 2017, potentially dilutive stock options of approximately 106,462 and 376,755 were considered anti-dilutive and were excluded from the computation of diluted earnings per share.

Rights Offering

On February 28, 2018, the Company completed a Rights Offering for gross proceeds of $10.0 million for 5,000,000 shares of its common stock pursuant to a registration statement on Form S-1, as amended, that was previously filed and declared effective by the SEC on February 9, 2018. Of the 5,000,000 shares issued, 3,257,645 were issued to Everest Hill Group, the Company’s majority shareholder. With the completion of the Right’s Offering, Everest Hill Group holds approximately 52.7% of the Company’s outstanding common stock as of June 30, 2018.

The Company received net proceeds of approximately $9.8 million from the Rights Offering after deducting offering costs payable by the Company. The proceeds were used for general corporate purposes.