7. Earnings (Loss) Per Common Share

6 Months Ended

Dec. 31, 2018

Earnings Per Share [Abstract]

Income (Loss) Per Common Share

Earnings (loss) per common share data was computed as follows:

	For the Three Month Period Ended December 31, 2018	For the Three Month Period Ended December 31, 2017	For the Six Month Period Ended December 31, 2018	For the Six Month Period Ended December 31, 2017
Net income (loss)	$118,400	$(81,000)	$260,500	$(313,600)
Weighted average common shares outstanding	1,494,112	1,494,112	1,494,112	1,494,112
Effect of dilutive securities	18,839	-	11,368	-
Weighted average dilutive common shares outstanding	1,512,951	-	1,505,480	-
Basic earnings (loss) per common share	$.08	$(.05)	$.17	$(.21)
Diluted earnings (loss) per common share	$.08	$(.05)	$.17	$(.21)

Approximately 82,000 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 the three and six month periods ended December 31, 2017, because the effect would be anti-dilutive.