EARNINGS (LOSS) PER SHARE

3 Months Ended

Sep. 30, 2020

The calculation of basic earnings (loss) per share (“EPS”) and diluted EPS are presented below:


	Three months ended September 30,
($ in thousands, except per share data)	2020		2019

Numerator for basic and diluted loss per share
Net loss	$	(6,613)	$	(11,508)
Preferred dividends	(334)		(334)
Net loss applicable to common shareholders	$	(6,947)	$	(11,842)

Denominator for basic loss per share - Weighted average shares outstanding	64,859,002		60,096,852
Effect of dilutive potential common shares	—		—
Denominator for diluted loss per share - Adjusted weighted average shares outstanding	64,859,002		60,096,852

Basic loss per share	$	(0.11)	$	(0.20)
Diluted loss per share	$	(0.11)	$	(0.20)

Anti-dilutive shares excluded from the calculation of diluted loss per share were 2,534,225 for the three months ended September 30, 2020 and 1,293,317 for the three months ended September 30, 2019.