7. Earnings (Loss) per common share

6 Months Ended

Dec. 31, 2014

Equity [Abstract]

Earnings (Loss) per common share

Basic earnings (loss) per common share are computed by dividing net income (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,
	2014			2013		2014			2013
Net income (loss)	$	(138,000	)	$	135,100	$	(299,300	)	$	137,200
Weighted average common shares outstanding		1,479,112			1,342,663		1,475,960			1,340,163
Dilutive securities		-			6,327		-			6,867
Weighted average dilutive common shares outstanding		1,479,112			1,348,990		1,475,960			1,347,030
Basic and diluted earnings (loss) per common share	$	(0.09	)	$	0.10	$	(0.20	)	$	0.10

Approximately 51,000 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, 2014, because the effect would be anti-dilutive.

Approximately 5,000 and 28,500 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, 2013, because the effect would be anti-dilutive.