Earnings Per Share

3 Months Ended

Sep. 30, 2011

Earnings Per Share

Earnings Per Share [Text Block]

Note 9.   Net Income (Loss) Per Share

Basic net income (loss) per share is computed using the weighted average number of common shares outstanding during each period.  Diluted net income (loss) per share would normally include the dilutive effect of common shares potentially issuable upon the exercise of stock options, warrants, or the conversion of preferred stock. 

The following table provides a reconciliation of the numerators and denominators used in calculating basic and diluted earnings per share at September 30, 2011 and 2010.

Earnings Per Share
	September 30,
	2011		2010
Basic earnings (loss) per share calculation:
Net income (loss) from continuing operations to common shareholders	$       (236,936)		$         (63,101)
Net income (loss) from discontinued operations  to common shareholders	(775,064)		327,322
Net income (loss) to common shareholders	$   (1,012,000)		$        264,221
Weighted average of common shares outstanding	43,325,843		41,995,526
Basic net earnings (loss) from continuing operations	0.00		0.00
Basic net earnings (loss) from discontinued operations	(0.02)		0.01
Basic net earnings (loss) per share	(0.02)		0.01
Diluted earnings (loss) per share calculation:
Net income (loss) from continuing operations to common shareholders	(236,936)		(63,101)
Net income (loss) from discontinued operations to common shareholders.	(775,064)		327,322
Net income (loss) to common shareholders	$   (1,012,000)		$        264,221
Weighted average of common shares outstanding	43,325,843		41,995,526
Series A Convertible Preferred Stock	-	[1]	-
Stock Options	-	[2]	-
Warrants	-	[3]	-
Diluted weighted average common shares outstanding	43,325,843		41,995,526
Diluted net earnings (loss) from continuing operations	0.00		0.00
Diluted net earnings (loss) from discontinued operations	0.02		0.01
Diluted net earnings (loss) per share	0.02		0.01