7. Earnings (Loss) per common share

3 Months Ended

Sep. 30, 2013

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
	Periods Ended
	September 30,
	2013		2012
Net income (loss)	$	2,100	$	(62,200	)
Weighted average common shares outstanding		1,337,663		1,335,712
Dilutive securities		7,408		—
Weighted average dilutive common shares outstanding		1,345,071		1,335,712
Basic earnings (loss) per common share			$	(0.05	)
Diluted earnings (loss) per common share	$	—	$	(0.05	)

Approximately 28,500 and 60,000 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 months ended September 30, 2013 and 2012, respectively, because the effect would be anti-dilutive.