7. Earnings (Loss) per common share

6 Months Ended

Dec. 31, 2012

Equity [Abstract]

Earnings (Loss) per common share

Basic earnings (loss) per common share are computed by dividing net income or loss by the weighted-average number of shares outstanding. Diluted earnings per common share include the dilutive effect of stock options, if any.

Earnings (Loss) per common share was computed as follows:

	For the Three Month					For the Six Month
	Periods Ended					Periods Ended
	December 31,					December 31,
	2012		2011			2012		2011
Net income (loss)	$	138,400	$	(55,300	)	$	76,200	$	4,000
Weighted average common shares outstanding		1,337,175		1,265,613			1,336,444		1,231,095
Dilutive securities		3,765		-			4,463		14,873
Weighted average dilutive common shares outstanding		1,340,940		1,265,613			1,340,907		1,245,968
Basic earnings (loss) per common share	$	0.10	$	(0.04	)	$	0.06	$	-
Diluted earnings (loss) per common share	$	0.10	$	(0.04	)	$	0.06	$	-

Approximately 40,000 shares of the Company's common stock issuable upon the exercise of outstanding options were excluded from the calculation of diluted earnings per common share for each of the three and six month periods ended December 31, 2012, because the effect would be anti-dilutive.

Approximately 57,000 and 2,000 shares of the Company’s Common Stock issuable upon the exercise of outstanding stock options were excluded from the calculation of diluted earnings per common share for the three and six month periods ended December 31, 2011, because the effect would be anti-dilutive.