13. Earnings Per Share (Tables)

9 Months Ended

Jun. 30, 2019

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

	Three Months Ended June 30,						Nine Months Ended June 30,
	2019			2018			2019			2018
Basic

Net income	$	1,480,343		$	2,077,038		$	3,484,258		$	5,877,866
Less: preferred stock dividends		(292	)		(292	)		(876	)		(876	)
Net income applicable to common stock	$	1,480,051		$	2,076,746		$	3,483,382		$	5,876,990

Weighted average common shares outstanding		1,886,445			1,970,136			1,919,221			1,972,758

Basic earnings per share	$	0.78		$	1.05		$	1.81		$	2.98


Diluted

Net income applicable to common stock	$	1,480,051		$	2,076,746		$	3,483,382		$	5,876,990
Add: preferred stock dividends		292			292			876			876
Net income applicable for diluted earnings per share	$	1,480,343		$	2,077,038		$	3,484,258		$	5,877,866

Weighted average common shares outstanding		1,886,445			1,962,039			1,919,221			1,983,719
Add: Options		–			38,980			4,610			42,440
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		3,625,630			3,740,204			3,663,016			3,765,344

Diluted earnings per share	$	0.41		$	0.56		$	0.95		$	1.56