1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Dec. 31, 2012

Accounting Policies [Abstract]

Income (Loss) per Share

The following is the calculation of income (loss) per share for the three and six months ended December 31, 2012 and 2011:

		Three Months Ended December 31						Six Months Ended December 31
		2012			2011			2012			2011
Net Income (Loss) – Basic	$	(906,484	)	$	(324,875	)	$	(1,264,578	)	$	1,673,566
Interest Expense on Senior Convertible Notes		-			-			-			27,708
Net Income (Loss) – Diluted	$	(906,484	)	$	(324,875	)	$	(1,264,578	)	$	1,701,274
Basic Weighted Average Shares Outstanding		4,035,656			1,191,138			2,688,788			1,081,075
Potentially Dilutive Securities		-			-			-			79,280
Diluted Weighted Average Shares Outstanding		4,035,656			1,191,138			2,688,788			1,160,355
Income (Loss) Per Share
Basic	$	(0.22	)	$	(0.27	)	$	(0.47	)	$	1.55
Diluted	$	(0.22	)	$	(0.27	)	$	(0.47	)	$	1.47