7. Earnings (Loss) per common share

9 Months Ended

Mar. 31, 2013

Equity [Abstract]

Earnings (Loss) per common share

Basic earnings (losses) per common share are computed by dividing net income 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 Nine Month
	Periods Ended					Periods Ended
	March 31,					March 31,
	2013		2012			2013		2012
Net income (loss)	$	150,100	$	(8,200	)	$	226,300	$	(4,200	)
Weighted average common shares outstanding		1,337,663		1,335,712			1,336,844		1,265,714
Dilutive securities		4,701		-			4,543		-
Weighted average dilutive common shares outstanding		1,342,364		1,335,712			1,341,387		1,265,714
Basic earnings (loss) per common share	$	0.11	$	(0.01	)	$	0.17	$	(0.00)
Diluted earnings (loss) per common share	$	0.11	$	(0.01	)	$	0.17	$	(0.00)

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 nine month periods ended March 31, 2013, because the effect would be anti-dilutive.

Approximately 55,000 shares of the Company’s common stock issuable upon the exercise of outstanding options were excluded from the calculation of diluted loss per common share, for the three and nine month periods ended March 31, 2012, respectively, because the effect would be anti-dilutive due to the losses for the periods.