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NET INCOME (LOSS) PER COMMON SHARE (Tables)
 6 Months Ended
Dec. 31, 2012
Schedule of Earnings Per Share
Earnings per share are computed by dividing net loss by the weighted average number of common shares outstanding during the period, as follows:

   
Six Months Ended
  
   
December 31,
2012
    
December 31,
2011
  
Numerator:
            
          Net loss
   $ (3,019,487 )   $ (115,784 )
          Numerator for basic and diluted
          loss per share
   $ (3,019,487 )   $ (115,784 )
                 
Denominator:
                
          Weighted-average shares outstanding-basic
     2,320,319       2,312,346  
          Effect of dilutive securities:
                
                   Stock options
     -       -  
                 
          Denominator for diluted income (loss) per share-
          Weighted-average shares
     2,320,319       2,312,346  
                 
                 
      Basic income (loss) per share
   $ (1.30 )   $ (0.05 )
                 
      Diluted income (loss) per share
   $ (1.30 )   $ (0.05 )