7. EARNINGS (LOSS) PER SHARE

9 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

EARNINGS (LOSS) PER SHARE

We report earnings per share in accordance with ASC 260, “Earnings Per Share.”  Basic earnings (loss) per share are computed using the weighted average number of shares outstanding during the period. Diluted earnings per share represent basic earnings per share adjusted to include the potentially dilutive effect of outstanding stock options. For the nine months ended March 31, 2014, we were in a net loss position and have excluded 1,056,170 stock options from the calculation of diluted net loss per share because these securities were anti-dilutive. The weighted average number of shares outstanding used to compute earnings per share is as follows:

	Three Months Ended March 31,					Nine Months Ended March 31,
	2015		2014			2015		2014
Net income (loss) attributable to Parent Company	$	17,799	$	(131,180	)	$	725,427	$	(1,097,860	)
Weighted-average shares of common stock outstanding:
Basic shares outstanding		10,533,869		10,381,785			10,533,869		10,376,787
Dilutive effect of common stock equivalents arising from stock options		116,740		–			116,740		–
Diluted shares outstanding		10,650,609		10,381,785			10,650,609		10,376,787
Basic earnings (loss) per share	$	0.00	$	(0.01	)	$	0.07	$	(0.11	)
Diluted earnings (loss) per share	$	0.00	$	(0.01	)	$	0.07	$	(0.11	)