LOSS PER SHARE CALCULATION

3 Months Ended

Sep. 30, 2022

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:


	Three months ended September 30,
($ in thousands, except per share data)	2022		2021

Numerator for basic and diluted loss per share
Net loss	$	(8,574)	$	(1,291)
Preferred dividends	(334)		(334)
Net loss applicable to common shareholders	(8,908)		(1,625)

Denominator for basic loss per share - Weighted average shares outstanding	71,207,750		71,175,927
Effect of dilutive potential common shares	—		—
Denominator for diluted loss per share - Adjusted weighted average shares outstanding	71,207,750		71,175,927

Basic and diluted loss per share	$	(0.13)	$	(0.02)

Anti-dilutive shares excluded from the calculation of diluted loss per share were approximately 6 million and 4 million for the three months ended September 30, 2022 and September 30, 2021, respectively.