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

3 Months Ended

Dec. 31, 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 share of Common Stock is calculated using net income (loss) divided by the weighted average number of voting shares of Common Stock outstanding, including unissued, vested directors’ deferred compensation shares, during the period. 

For the three months ended December 31, 2021, the Company did not include restricted stock in the diluted EPS calculation because the effect would have been antidilutive. The average shares outstanding of restricted stock excluded from the diluted EPS was 73,208 and 81,663 for the three months ended December 31, 2021 and 2020, respectively.

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

	Three Months Ended December 31,
	2021		2020
Basic EPS
Numerator:
Basic net income (loss)	$	6,682,249	$	(596,720	)
Denominator:
Basic weighted average shares outstanding		33,127,722		22,556,236
Basic EPS	$	0.20	$	(0.03	)
Diluted EPS
Numerator:
Basic net income (loss)	$	6,682,249	$	(596,720	)
Diluted net income (loss)		6,682,249		(596,720	)
Denominator:
Basic weighted average shares outstanding		33,127,722		22,556,236
Effects of dilutive securities:
Unvested restricted stock		-		-
Diluted weighted average shares outstanding		33,127,722		22,556,236
Diluted EPS	$	0.20	$	(0.03	)