Earnings Per Share

9 Months Ended

Feb. 29, 2020

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 nine months and three months ended February 29(28) are as follows:

	2020		2019
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 nine months ended February 29(28), 2020 and 2019:

	2020		2019
Numerator -
Net income attributable to common stockholders	$	2,546,483	$	789,399
Denominator -
Weighted-average shares outstanding - basic		28,361,201		28,361,201
Incremental shares from assumed conversion of warrants and options		642,000		648,214
Diluted shares		29,003,201		29,009,415
Income per share -
Basic and Diluted	$	0.09	$	0.03

For the three months ended February 29(28), 2020 and 2019:

	2020		2019
Numerator -
Net income attributable to common stockholders	$	1,799,805	$	59,118
Denominator -
Weighted-average shares outstanding - basic		28,361,201		28,361,201
Incremental shares from assumed conversion of warrants and options		638,298		650,847
Diluted shares		28,999,499		29,012,048
Income per share -
Basic and Diluted	$	0.06	$	0.00