Earnings Per Share

3 Months Ended

Sep. 30, 2017

Earnings Per Share [Abstract]

Earnings Per Share

11. Earnings Per Share

Basic earnings per share is computed by dividing the weighted-average number of shares of Class A common stock outstanding, during each period presented. Diluted earnings per share is computed similarly to basic earnings per share except that it reflects the potential dilution that could occur if dilutive securities or other obligations to issue shares of Class A common stock were exercised or converted into shares of Class A common stock. The computations for basic and diluted earnings per share are described in the following table:

	Three months ended September 30,
	2017		2016
Net income	$	217,695	$	140,496
Weighted average common shares outstanding:
Basic number of shares		24,235,058		15,616,855
Effect of dilutive securities:
Options to purchase common stock		366,179		92,584
RSUs		1,362,049		1,114,134
Common stock warrants		258,302		329,198
Diluted number of shares		26,221,588		17,152,771
Earnings per common share:
Basic	$	0.01	$	0.01
Diluted	$	0.01	$	0.01

The following potential dilutive shares were not included in the computation of diluted earnings per share as their effects would be anti-dilutive:

Options to purchase common stock	728,784	706,676
RSUs	146,733	197,661
Common stock warrants	230,129	694,408
	1,105,646	1,598,745