10. Earnings (Loss) Per Share

12 Months Ended

Jun. 30, 2015

Notes

10. Earnings (Loss) Per Share

10.                    EARNINGS (LOSS) PER SHARE

Basic loss per common share is based on the weighted average number of common shares outstanding in each period and net earnings.  Diluted loss per common share assumes that outstanding common shares were increased by shares issuable upon exercise of those stock options for which market price exceeds exercise price, less shares which could have been purchased by the Company with related proceeds

The following table sets forth the computation of basic and diluted earnings per share.

	Years Ended
	June 30, 2015		June 30, 2014
Net loss – basic and diluted	$	(1,332,793)	$	(334,059)
Weighted average shares - basic		77,113,297		64,625,990
Incremental shares outstanding assuming the conversion of dilutive convertible promissory notes and stock options		*		*
Weighted average shares - diluted		77,113,297		64,625,990
Loss per share:
Basic	$	(.017)	$	(.005)
Diluted	$	(.017)	$	(.005)

* 3,174,000 shares related to stock options have not been included because their effect would be anti-dilutive.  10,962,000 shares related to convertible debentures have not been included because their effect would be anti-dilutive.