Basic And Diluted Earnings (Loss) Per Common Share ("EPS")

9 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Basic And Diluted Earnings (Loss) Per Common Share ("EPS")

NOTE 4: Basic and Diluted Earnings (Loss) Per Common Share (“EPS”)

Basic and diluted earnings (loss) per common share is calculated using net income (loss) divided by the weighted average number of voting common shares outstanding, including unissued, vested directors’ deferred compensation shares, during the period. 

For the three and nine months ended June 30, 2021, the Company did not include restricted stock in the diluted EPS calculation because the effect would have been antidilutive.

The following table presents a reconciliation of the components of basic and diluted EPS.

	Three Months Ended June 30,						Nine Months Ended June 30,
	2021			2020			2021			2020
Basic EPS
Numerator:
Basic net income (loss)	$	(1,356,594	)	$	(3,555,215	)	$	(2,453,037	)	$	(22,117,915	)
Denominator:
Basic weighted average shares outstanding		28,309,258			16,545,042			24,482,639			16,528,236
Basic EPS	$	(0.05	)	$	(0.21	)	$	(0.10	)	$	(1.34	)
Diluted EPS
Numerator:
Basic net income (loss)	$	(1,356,594	)	$	(3,555,215	)	$	(2,453,037	)	$	(22,117,915	)
Diluted net income (loss)		(1,356,594	)		(3,555,215	)		(2,453,037	)		(22,117,915	)
Denominator:
Basic weighted average shares outstanding		28,309,258			16,545,042			24,482,639			16,528,236
Effects of dilutive securities:
Unvested restricted stock		-			-			-			-
Diluted weighted average shares outstanding		28,309,258			16,545,042			24,482,639			16,528,236
Diluted EPS	$	(0.05	)	$	(0.21	)	$	(0.10	)	$	(1.34	)