Earnings Per Share

6 Months Ended

Nov. 30, 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 for the six months and three months ended November 30 are as follows:

	2019		2018
Preferred stock convertible into common stock		3,333,333		3,333,333

The following tables set forth the computation of basic and diluted earnings per share:

For the six months ended November 30, 2019 and 2018:

	2019		2018
Numerator -
Net income attributable to common stockholders	$	746,678	$	730,281
Denominator -
Weighted-average shares outstanding - basic		28,361,201		28,361,201
Incremental shares from assumed conversion of options and warrants		644,231		648,748
Diluted shares		29,005,432		29,009,949
Income per share -
Basic and Diluted	$	0.03	$	0.03

For the three months ended November 30, 2019 and 2018:

	2019		2018
Numerator -
Net income attributable to common stockholders	$	304,428	$	128,893
Denominator -
Weighted-average shares outstanding - basic		28,361,201		28,361,201
Incremental shares from assumed conversion of options and warrants		639,959		657,061
Diluted shares		29,001,160		29,018,262
Income per share -
Basic and Diluted	$	0.01	$	0.00