Earnings Per Share (Tables)

9 Months Ended

Feb. 28, 2021

Earnings Per Share [Abstract]

Schedule of Anti-Dilutive Instruments of Earnings Per Share

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 at February 28(29) are as follows:

	2021		2020
For the nine months ended February 28(29):
Preferred stock convertible into common stock		-		3,333,333
For the three months ended February 28(29):
Preferred stock convertible into common stock		3,333,333		-

Schedule of Basic and Diluted Earnings Per Share

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

Nine months ended February 28(29), 2021 and 2020:
	2021		2020
Basic earnings per share of common stock:
Numerator -
Net income attributable to common stockholders	$	2,366,837	$	2,546,483
Denominator -
Weighted-average shares outstanding - basic		28,361,201		28,361,201
Income per share of common stock - basic	$	0.08	$	0.09
Diluted earnings per share of common stock:
Numerator -
Net income attributable to common stockholders	$	2,366,837	$	2,546,483
Add: Preferred stock dividends for assumed conversion		243,973		-
Net income allocated to common stockholders	$	2,610,810	$	2,546,483
Denominator -
Weighted-average shares outstanding - basic		28,361,201		28,361,201
Incremental shares from assumed conversion of options, warrants and preferred stock, as appropriate		4,001,811		642,000
Weighted average common stock outstanding - diluted		32,363,012		29,003,201
Income per share of common stock – diluted	$	0.08	$	0.09

Three months ended February 28(29), 2021 and 2020:
	2021		2020
Basic earnings per share of common stock:
Numerator -
Net income attributable to common stockholders	$	633,456	$	1,799,805
Denominator -
Weighted-average shares outstanding - basic		28,361,201		28,361,201
Income per share of common stock - basic	$	0.02	$	0.06
Diluted earnings per share of common stock:
Numerator -
Net income attributable to common stockholders	$	633,456	$	1,799,805
Add: Preferred stock dividends for assumed conversion		-		99,726
Net income allocated to common stockholders	$	633,456	$	1,899,531
Denominator -
Weighted-average shares outstanding - basic		28,361,201		28,361,201
Incremental shares from assumed conversion of options, warrants and preferred stock, as appropriate		667,956		3,971,631
Weighted average common stock outstanding - diluted		29,029,157		32,332,832
Income per share of common stock – diluted	$	0.02	$	0.06