LOSS PER SHARE

9 Months Ended

Mar. 31, 2021

The calculation of basic and diluted loss per share are presented below:


	Three months ended March 31,
($ in thousands, except per share data)	2021		2020

Numerator for basic and diluted loss per share
Net loss	$	(1,848)	$	(9,295)
Preferred dividends	(334)		(334)
Net loss applicable to common shareholders	(2,182)		(9,629)

Denominator for basic loss per share - Weighted average shares outstanding	67,112,511		64,096,778
Effect of dilutive potential common shares	—		—
Denominator for diluted loss per share - Adjusted weighted average shares outstanding	67,112,511		64,096,778

Basic loss per share	$	(0.03)	$	(0.15)
Diluted loss per share	$	(0.03)	$	(0.15)


	Nine months ended March 31,
($ in thousands, except per share data)	2021		2020

Numerator for basic and diluted loss per share
Net loss	$	(11,363)	$	(29,181)
Preferred dividends	(668)		(668)
Net loss applicable to common shareholders	(12,031)		(29,849)

Denominator for basic loss per share - Weighted average shares outstanding	65,617,458		62,591,947
Effect of dilutive potential common shares	—		—
Denominator for diluted loss per share - Adjusted weighted average shares outstanding	65,617,458		62,591,947

Basic loss per share	$	(0.18)	$	(0.48)
Diluted loss per share	$	(0.18)	$	(0.48)

Anti-dilutive shares excluded from the calculation of diluted loss per share were 4,099,170 for the three and nine months ended March 31, 2021 and 1,625,414 for the three and nine months ended March 31, 2020.