Earnings Per Share

9 Months Ended

Feb. 28, 2019

Earnings Per Share [Abstract]

Earnings Per Share

Note 2. Earnings Per Share

Basic earnings per share is based on the weighted-average effect of all common shares issued and outstanding and is calculated by dividing net income attributable to common stockholders by the weighted-average shares outstanding during the period. Diluted earnings per share is calculated by dividing net income attributable to common stockholders by the weighted-average number of common shares used in the basic earnings per share calculation plus the number of common shares that would be issued assuming exercise or conversion of all potentially dilutive common shares outstanding.

Greystone excludes equity instruments from the calculation of diluted earnings per share if the effect of including such instruments is anti-dilutive. Instruments which have an anti-dilutive effect are as follows:

	2019		2018
Nine months ended February 28:
Preferred stock convertible into common stock		3,333,333		3,333,333
Total		3,333,333		3,333,333
Three months ended February 28:
Options to purchase common stock		-		200,000
Warrants to purchase common stock		-		500,000
Preferred stock convertible into common stock		3,333,333		3,333,333
Total		3,333,333		4,033,333

The following tables set forth the computation of basic and diluted earnings per share for the nine months and three months ended February 28, 2019 and 2018:

	2019		2018
Nine months ended February 28:
Numerator -
Net income attributable to common stockholders	$	789,399	$	210,817
Denominator -
Weighted-average shares outstanding - basic		28,361,201		28,361,201
Incremental shares from assumed conversion of options and warrants		648,214		630,952
Diluted shares		29,009,415		28,992,153
Income per share -
Basic and Diluted	$	0.03	$	0.01
Three months ended February 28:
Numerator -
Net income (loss) attributable to common stockholders	$	59,118	$	(152,554	)
Denominator -
Weighted-average shares outstanding - basic		28,361,201		28,361,201
Incremental shares from assumed conversion of options and warrants		650,847		-
Diluted shares		29,012,048		28,361,201
Income (Loss) per share -
Basic and Diluted	$	0.00	$	(0.01	)