Earnings Per Share

12 Months Ended

Jun. 30, 2018

Earnings Per Share [Abstract]

Earnings Per Share

Basic earnings per share is computed by dividing net income by 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:

	Year Ended June 30,
	2018		2017
Net income	$	1,060,104	$	7,703,086
Weighted-average common shares outstanding:
Basic number of shares		25,006,467		20,001,868
Effect of dilutive securities:
Options to purchase common stock		331,985		142,482
RSUs		1,387,348		1,167,540
Common stock warrants		85,668		354,502
Diluted number of shares		26,811,468		21,666,392
Earnings per common share:
Basic	$	0.04	$	0.39
Diluted	$	0.04	$	0.36

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	739,864	378,278
RSUs	216,946	289,036
Common stock warrants	85,018	518,087
	1,041,828	1,185,401