GREYSTONE LOGISTICS INC
For the period ended May 31, 2024. Filed Sep 13, 2024.
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FY2024 · Filed Sep 13, 2024
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Earnings Per Share
Note 2.** EARNINGS PER SHARE
Basic and diluted earnings per share of common stock for the years ended May 31, are as follows:
| 2024 | 2023 | |
|---|---|---|
| Basic earnings per share of common stock: | ||
| Numerator - | ||
| Net income attributable to common stockholders | $4,440,265 | $5,842,828 |
| Denominator - | ||
| Weighted-average common shares outstanding | 28,279,701 | 28,279,701 |
| Income per share of common stock - Basic | $0.16 | $0.21 |
| Diluted earnings per share of common stock: | ||
| Numerator - | ||
| Net income attributable to common stockholders | $4,440,265 | $5,842,828 |
| Add: Preferred stock dividends due to assumed conversion | - | 495,681 |
| Net income allocated to common stockholders | $4,440,265 | $6,338,509 |
| Denominator - | ||
| Weighted-average common shares outstanding-basic | 28,279,701 | 28,279,701 |
| Incremental common shares from assumed conversion of warrants and preferred stock, as appropriate | 495,283 | 3,825,814 |
| Diluted weighted average common stock outstanding | 28,774,984 | 32,105,515 |
| Income per share of common stock - Diluted | $0.15 | $0.20 |
Greystone's Series 2003 preferred stock, which is convertible into 3,333,333 shares of common stock, was not included in the computation of diluted earnings per share for the fiscal year 2024 as the effect would have been antidilutive.
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