7. EARNINGS PER SHARE

6 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

EARNINGS PER SHARE

We report earnings per share in accordance with ASC 260, “Earnings Per Share.”  Basic earnings 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. The weighted average number of shares outstanding used to compute earnings per share is as follows:

	Three Months ended December 31,				Six Months Ended December 31,
	2015		2014		2015		2014
Net income attributable to Parent Company	$	617,219	$	424,480	$	635,166	$	707,628
Weighted-average shares of common stock outstanding:
Basic shares outstanding		10,511,012		10,533,869		10,522,503		10,533,869
Dilutive effect of common stock equivalents arising from stock options		167,027		128,010		167,027		128,010
Diluted shares outstanding		10,678,039		10,661,879		10,689,530		10,661,879
Basic earnings per share	$	0.06	$	0.04	$	0.06	$	0.07
Diluted earnings per share	$	0.06	$	0.04	$	0.06	$	0.07