Quarterly report pursuant to Section 13 or 15(d)

12. Earnings Per Share

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12. Earnings Per Share
3 Months Ended
Dec. 31, 2016
Earnings Per Share [Abstract]  
Earnings Per Share

Net earnings per share is calculated using the weighted average number of shares of common stock outstanding during the applicable period. Basic weighted average common shares outstanding do not include shares of restricted stock that have not yet vested, although such shares are included as outstanding shares in the Company’s Consolidated Balance Sheet. Diluted net earnings per share is computed using the weighted average number of common shares outstanding and if dilutive, potential common shares outstanding during the period. Potential common shares consist of the additional common shares issuable in respect of restricted share awards, stock options and convertible preferred stock. Preferred stock dividends are subtracted from net earnings to determine the amount available to common stockholders.

 

The following table presents the computation of basic and diluted net earnings per share:

 

    Three Months Ended December 31,  
    2016     2015  
Basic            
             
Net income attributed to Live Ventures Incorporated   $ 1,428,573     $ 176,148  
Less: preferred stock dividends     (479 )     (480 )
Net income applicable to common stock   $ 1,428,094     $ 175,668  
                 
Weighted average common shares outstanding     1,999,983       2,817,516  
                 
Basic earnings per share   $ 0.71     $ 0.06  
                 
Diluted                
                 
Net income applicable to common stock   $ 1,428,094     $ 175,668  
Add: preferred stock dividends     479       480  
Net income applicable for diluted earnings per share   $ 1,428,573     $ 176,148  
                 
Weighted average common shares outstanding     1,999,983       2,817,516  
Add: Options     44,355       21,557  
Add: Common Stock Warrants           342,868  
Add: Series B Preferred Stock     1,071,200        
Add: Series B Preferred Stock Warrants     590,145        
Add: Series E Preferred Stock     127,840       127,840  
Assumed weighted average common shares outstanding     3,833,523       3,309,782  
                 
Diluted earnings per share   $ 0.37     $ 0.05