6. Earnings (Loss) per common share

9 Months Ended

Mar. 31, 2017

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 (loss) 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 March 31,					For the Nine Month Periods Ended March 31
	2017		2016			2017		2016
Net income (loss)	$	65,600	$	(36,900	)	$	62,200	$	(2,600	)
Weighted average common shares outstanding		1,492,334		1,489,112			1,490,189		1,489,112
Dilutive securities		38		—			1,309		—
Weighted average dilutive common shares outstanding		1,492,372		1,489,112			1,491,498		1,489,112
Basic earnings (loss) per common share	$	0.04	$	(0.02	)	$	0.04	$	0.00
Diluted earnings (loss) per common share	$	0.04	$	(0.02	)	$	0.04	$	0.00

Approximately 33,500 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 nine month periods ended March 31, 2017 and 2016, respectively, because the effect would be anti-dilutive.