13. Earnings Per Share (Tables)

6 Months Ended

Mar. 31, 2019

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

	Three Months Ended March 31,						Six Months Ended March 31,
	2019			2018			2019			2018
Basic

Net income	$	473,406		$	1,923,273		$	2,003,915		$	3,800,828
Less: preferred stock dividends		(292	)		(292	)		(584	)		(584	)
Net income applicable to common stock	$	473,114		$	1,922,981		$	2,003,331		$	3,800,244

Weighted average common shares outstanding		1,925,972			1,970,136			1,935,610			1,972,758

Basic earnings per share	$	0.25		$	0.98		$	1.03		$	1.93

Diluted

Net income applicable to common stock	$	473,114		$	1,922,981		$	2,003,331		$	3,800,244
Add: preferred stock dividends		292			292			584			584
Net income applicable for diluted earnings per share	$	473,406		$	1,923,273		$	2,003,915		$	3,800,828

Weighted average common shares outstanding		1,925,972			2,027,564			1,999,983			1,972,758
Add: Options		2,255			44,923			6,916			44,171
Add: Series B Preferred Stock		1,071,200			1,071,200			1,071,200			1,071,200
Add: Series B Preferred Stock Warrants		590,145			590,145			590,145			590,145
Add: Series E Preferred Stock		77,840			77,840			77,840			77,840
Assumed weighted average common shares outstanding		3,667,412			3,811,672			3,746,084			3,756,114

Diluted earnings per share	$	0.13		$	0.50		$	0.53		$	1.01