5. Loss Per Share

3 Months Ended

Sep. 30, 2014

Notes to Financial Statements

Loss Per Share

Net loss per share has been presented pursuant to ASC Topic 260, “Earnings per Share”. Basic net loss per share is computed by dividing reported net loss available to common shareholders by weighted average shares outstanding for the period.  Diluted net loss per share is computed by dividing reported net loss available to common shareholders by weighted average shares outstanding for the period, adjusted for the dilutive effect of common stock equivalents, which consist of stock options, using the treasury stock method.

The table below sets forth the reconciliation of the numerators and denominators of the basic and diluted net loss per common share computations. For the three months ended September 30, 2014 and September 30, 2013, respectively, all outstanding stock options (37,200 shares on September 30, 2014 and 46,500 shares on September 30, 2013) were excluded from the computation of earnings per share due to their anti-dilutive effect.

	Three-months Ended September 30,
	2014								2013
	Net Loss			Shares		Per Share Amount			Net Loss			Shares		Per Share Amount
Basic net loss per common share	$	(37,370	)		1,362,031	$	(.03	)	$	(333,131	)		1,362,031	$	(.24	)
Effect of dilutive securities		--			--		--			--			--		--
Diluted net loss per common share	$	(37,370	)		1,362,031	$	(.03	)	$	(333,131	)		1,362,031	$	(.24	)