LOSS PER SHARE CALCULATION

12 Months Ended

Jun. 30, 2021

Basic loss per share is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted earnings per share, applicable only to years ended with reported income, is computed by dividing net income by the weighted average number of common shares outstanding during the period plus the dilutive effect of outstanding stock options and restricted stock-based awards using the treasury stock method. The calculation of basic and diluted loss per share is presented below:


	Year ended June 30,
($ in thousands, except per share data)	2021		2020		2019

Numerator for basic and diluted loss per share
Net loss	$	(8,705)	$	(40,595)	$	(29,882)
Preferred dividends	(668)		(668)		(668)
Net loss available to common shareholders	$	(9,373)	$	(41,263)	$	(30,550)

Denominator for basic loss per share - Weighted average shares outstanding	67,002,438		62,980,193		60,061,243
Effect of dilutive potential common shares	—		—		—
Denominator for diluted loss per share - Adjusted weighted average shares outstanding	67,002,438		62,980,193		60,061,243

Basic and diluted loss per share	$	(0.14)	$	(0.66)	$	(0.51)

Anti-dilutive shares excluded from the calculation of diluted loss per share were 4,139,745, 2,779,222, and 1,297,073 for the years ended June 30, 2021, 2020 and 2019, respectively.