6. Earnings (Loss) per common share

6 Months Ended

Dec. 31, 2016

Earnings Per Share [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,
	2016		2015		2016			2015
Net income (loss)	$	45,300	$	94,400	$	(3,400	)	$	34,300
Weighted average common shares outstanding		1,489,112		1,489,112		1,489,112			1,489,112
Dilutive securities		—		—		—			—
Weighted average dilutive common shares outstanding		1,489,112		1,489,112		1,489,112			1,489,112
Basic and diluted earnings (loss) per common share	$	0.03	$	0.06	($	.00	)	$	0.02

Approximately 43,500 and 38,500 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, 2016 and 2015, respectively, because the effect would be anti-dilutive.