EARNINGS PER SHARE

9 Months Ended

Mar. 31, 2013

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

NOTE 4- EARNINGS PER SHARE:

Basic and diluted net loss per share is computed by dividing the net loss for the period by the weighted average number of shares of common stock outstanding during the period. The calculation of diluted net loss per share excludes potential shares of common stock, as the effect is anti-dilutive. Potential shares of common stock are comprised of incremental shares of common stock issuable upon the exercise of stock options, warrants and convertible loans.

For the nine month periods ended March 31, 2013 and 2012 and the three month period ended March 31, 2013 and 2012, all shares of common stock underlying outstanding options, warrants, convertible loans and restricted stock have been excluded from the calculation of the diluted loss per share since their effect was anti-dilutive. The total number of shares of common stock related to outstanding options, warrants and convertible loans that were excluded from the calculations of diluted loss per share were 8,512,041 and 5,036,730 for the nine month periods ended March 31, 2013 and 2012, respectively and 8,512,041 and 5,036,730 for the three month periods ended March 31, 2013 and 2012, respectively.