7. Earnings (Loss) per common share

6 Months Ended

Dec. 31, 2015

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,
	2015		2014			2015		2014
Net income (loss)	$	94,400	$	(138,000	)	$	34,300	$	(299,300	)
Weighted average common shares outstanding		1,489,112		1,479,112			1,489,112		1,475,960
Dilutive securities		—		—			—		—
Weighted average dilutive common shares outstanding		1,489,112		1,479,112			1,489,112		1,475,960
Basic earningsand diluted earnings (loss) per common share	$	0.06	$	(0.09	)	$	0.02	$	(0.20	)

Approximately 38,500 and 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, 2015 and 2014, respectively, because the effect would be anti-dilutive.