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Earnings Per Share (Tables)

9 Months Ended

Feb. 28, 2023

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

For the nine months ended February 28, 2023 and 2022:

	2023		2022
Basic earnings per share of common stock:
Numerator -
Net income attributable to common stockholders	$	4,471,124	$	3,044,535
Denominator -
Weighted-average shares outstanding - basic		28,279,701		28,472,256
Income per share of common stock - basic	$	0.16	$	0.11

Diluted earnings per share of common stock:
Numerator -
Net income attributable to common stockholders	$	4,471,124	$	3,044,535
Add: Preferred stock dividends for assumed conversion		361,267		243,082
Net income allocated to common stockholders	$	4,832,391	$	3,287,617
Denominator -
Weighted-average shares outstanding – basic		28,279,701		28,472,256
Incremental shares from assumed conversion of options, warrants and preferred stock, as appropriate		3,825,723		3,828,828
Weighted average common stock outstanding – diluted		32,105,424		32,301,084
Income per share of common stock – diluted	$	0.15	$	0.10

For the three months ended February 28, 2023 and 2022:

	2023		2022
Basic earnings per share of common stock:
Numerator -
Net income attributable to common stockholders	$	3,562,996	$	452,458
Denominator -
Weighted-average shares outstanding – basic		28,279,701		28,472,639
Income per share of common stock – basic	$	0.13	$	0.02

Diluted earnings per share of common stock:
Numerator -
Net income attributable to common stockholders	$	3,562,996	$	452,458
Add: Preferred stock dividends for assumed conversion		132,500		-
Net income attributable to common stockholders	$	3,695,496	$	452,458
Denominator -
Weighted-average shares outstanding - basic		28,279,701		28,472,639
Incremental shares from assumed conversion of warrants or options, as appropriate		3,824,564		494,505
Weighted average common stock outstanding - diluted		32,104,265		28,967,144
Income per share of common stock – diluted	$	0.12	$	0.02