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EARNINGS (LOSS) PER SHARE
 9 Months Ended
Mar. 31, 2020
Earnings Per Share [Abstract]  
EARNINGS (LOSS) PER SHARE EARNINGS (LOSS) PER SHARE
The calculation of basic earnings (loss) per share (“EPS”) and diluted EPS are presented below:
 
 
Three months ended March 31,
($ in thousands, except per share data)
 
2020
 
2019
 
 
 
 
 
Numerator for basic and diluted loss per share
 
 
 
 
Net loss
 
$
(9,295
)
 
$
(4,306
)
Preferred dividends
 
(334
)
 
(334
)
Net loss applicable to common shareholders
 
$
(9,629
)
 
(4,640
)
 
 
 
 
 
Denominator for basic loss per share - Weighted average shares outstanding
 
64,096,778

 
60,065,053

Effect of dilutive potential common shares
 
—

 
—

Denominator for diluted loss per share - Adjusted weighted average shares outstanding
 
64,096,778

 
60,065,053

 
 
 
 
 
Basic loss per share
 
$
(0.15
)
 
$
(0.08
)
Diluted loss per share
 
$
(0.15
)
 
$
(0.08
)

 
 
Nine months ended March 31,
($ in thousands, except per share data)
 
2020
 
2019
 
 
 
 
 
Numerator for basic and diluted loss per share
 
 
 
 
Net loss
 
$
(29,181
)
 
$
(20,032
)
Preferred dividends
 
(668
)
 
(668
)
Net loss applicable to common shareholders
 
$
(29,849
)
 
$
(20,700
)
 
 
 
 
 
Denominator for basic loss per share - Weighted average shares outstanding
 
62,591,947

 
60,059,594

Effect of dilutive potential common shares
 
—

 
—

Denominator for diluted loss per share - Adjusted weighted average shares outstanding
 
62,591,947

 
60,059,594

 
 
 
 
 
Basic loss per share
 
$
(0.48
)
 
$
(0.34
)
Diluted loss per share
 
$
(0.48
)
 
$
(0.34
)

Anti-dilutive shares excluded from the calculation of diluted loss per share were 1,625,414 for the three and nine months ended March 31, 2020 and 1,240,302 for the three and nine months ended March 31, 2019.