Net Income Per Share

6 Months Ended

Dec. 31, 2012

Net Income Per Share

Net Income Per Share

Note 9 —Net Income Per Share

The following table sets forth the computation of basic and diluted income per share:

	Three Months Ended December 31,				Six Months Ended December 31,
	2012		2011		2012		2011
Numerator
Net income available to common shareholders	$	1,790,696	$	1,259,950	$	2,781,647	$	2,275,633
Denominator
Weighted average number of common shares — Basic	28,071,317		27,792,768		28,032,223		27,731,062
Effect of dilutive securities:
Common stock warrants issued in connection with equity and financing transactions	839		61,187		845		60,149
Stock Options and Incentive Warrants	3,784,261		3,661,316		3,803,915		3,603,317
Total weighted average dilutive securities	3,785,100		3,722,503		3,804,760		3,663,466
Weighted average number of common shares and dilutive potential common shares used in diluted EPS	31,856,417		31,515,271		31,836,983		31,394,528
Net income per common share — Basic	$	0.06	$	0.05	$	0.10	$	0.08
Net income per common share — Diluted	$	0.06	$	0.04	$	0.09	$	0.07

Outstanding potentially dilutive securities as of December 31, 2012 were as follows:

Outstanding Potential Dilutive Securities	Weighted Average Exercise Price		Outstanding at December 31, 2012
Common stock warrants issued in connection with equity and financing transactions	$	2.50	1,165
Stock Options and Incentive Warrants	$	1.82	5,342,820
Total	$	1.82	5,343,985

Outstanding potentially dilutive securities as of December 31, 2011 were as follows:

Outstanding Potential Dilutive Securities	Weighted Average Exercise Price		Outstanding at December 31, 2011
Common stock warrants issued in connection with equity and financing transactions	$	2.50	92,365
Stock Options and Incentive Warrants	$	1.83	5,372,820
Total	$	1.84	5,465,185