Net Income Per Share (EPS)

9 Months Ended

Apr. 30, 2020

Accounting Policies [Abstract]

Net Income Per Share (EPS)

Note 15 - Net Income Per Share (“EPS”):

Basic net income or loss per share is calculated using the weighted average number of common shares outstanding during the period. Diluted net income per share is calculated by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period and, when dilutive, potential shares from stock options and warrants to purchase common stock, using the treasury stock method. Common stock equivalents are included in the diluted income per share calculation only when option exercise prices are lower than the average market price of the common shares for the period presented.

	Three Months Ended April 30,				Nine Months Ended April 30,
	2020		2019		2020		2019
Weighted average number of common shares outstanding - Basic		76,976,925		84,507,030		70,702,570		74,445,373
Potentially dilutive common stock equivalents		—		—		—		—
Weighted average number of common and equivalent shares outstanding - Diluted		76,976,925		84,507,030		70,702,570		74,445,373

The following table provides weighted average number of common stock equivalents not included in diluted income per share, because the effects are anti-dilutive, as of April 30, 2020 and 2019, respectively.

	Nine Months Ended April 30,
	2020		2019
Convertible debt		12,923,232		8,339,288
Stock options		9,123,195		6,228,095
Warrants		567,553		559,553
Total		22,613,980		15,126,936