5. Loss Per Share

9 Months Ended

Mar. 31, 2016

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 tables below set forth the reconciliation of the numerators and denominators of the basic and diluted net loss per common share computations. For the three months ended March 31, 2016, outstanding stock options for 23,600 shares were excluded from the calculation of diluted net loss per share as a result of their anti-dilutive effect on the net loss for the period. For the three months ended March 31, 2015, options for 37,200 shares were excluded as a result of their anti-dilutive effect on the net loss per share for the period.

For the nine months ended March 31, 2016, outstanding stock options for 29,700 shares were excluded from the calculation of diluted net loss per share as a result of their anti-dilutive effect on the net loss for the period. For the nine months ended March 31, 2015, options for 37,200 shares were excluded due to the exercise price of the options exceeding the average share price for the period.

	Three-months Ended March 31,
	2016								2015
	Net Loss			Shares		Per Share Amount			Net Loss			Shares		Per Share Amount
Basic net loss
per common share	$	(199,783	)		1,362,031	$	(.15	)	$	(10,154	)		1,362,031	$	(.01	)
Effect of dilutiveSecurities		--			--		--			--			--		--
Diluted net loss per common share	$	(199,783	)		1,362,031	$	(.15	)	$	(10,155	)		1,362,031	$	(.01	)

	Nine-months Ended March 31,
	2016								2015
	Net Loss			Shares		Per Share Amount			Net Loss			Shares		Per Share Amount
Basic net loss
per common share	$	(325,250	)		1,362,031	$	(.24	)	$	(217,999	)		1,362,031	$	(.16	)
Effect of dilutive Securities		--			--		--			--			--		--
Diluted net loss per common share	$	(325,250	)		1,362,031	$	(.24	)	$	(217,999	)		1,362,031	$	(.16	)