Earnings Per Common Share

3 Months Ended

Dec. 31, 2015

Earnings Per Common Share [Text Block]

2.        EARNINGS PER COMMON SHARE

Earnings per Common Share (EPS) are presented on both a basic and diluted basis in accordance with the provisions of Accounting Standards Codification Topic 260 - Earnings per Share. Basic EPS is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted EPS reflects the maximum dilution that would result after giving effect to dilutive convertible debentures. The following table presents the computation of basic and diluted EPS:

	Three Months Ended		Six Months Ended
	December 31, 2015	December 31, 2014	December 31, 2015	December 31, 2014
Net income   ( loss)	$ (13,720 )	$   (34,020 )	$27,798	$   (18,977)
Weighted -average common shares used in the calculation of EPS
Basic and diluted	1,431,503	1,431,503	1,431,503	1,431,503
Basic and diluted net income (loss) per share	$(0.01)	$(0.02)	$0.02	$(0.01)