Per Share Information

12 Months Ended

Jun. 30, 2011

Notes to Financial Statements

Per Share Information

7. PER SHARE INFORMATION

In accordance with GAAP, "Earnings Per Share", basic net income (loss) per common share ("Basic EPS") is computed by dividing the net income (loss) attributable to common shareholders by the weighted-average number of common shares outstanding. Diluted net income (loss) per common share ("Diluted EPS") is computed by dividing the net income (loss) attributable to common shareholders by the weighted-average number of common shares and dilutive common share equivalents on convertible securities, options, and warrants then outstanding. GAAP requires the presentation of both Basic EPS and Diluted EPS on the face of the Company's Consolidated Statements of Operations. There were 750,000 stock options and 500,000 warrants excluded from the computation of Diluted EPS for the years ended June 30, 2011 and 2010 as their effect on the computation of Diluted EPS would have been anti-dilutive.

The following table sets forth the computation of basic and diluted per share information:

	June 30,
	2011			2010
Basic and Diluted	(in thousands)
Numerator
Loss attributable to common shareholders	$	(402.9	)	$	(387.6	)
Denominator:
Weighted average common shares outstanding for basic and full dilution		53,864.2			53,864.2
Basic and Diluted Per Share Information:
Net loss per share	$	(.01	)	$	(.01	)
Anti-dilutive instruments excluded from the above computation:
Common stock options – shares		750,000			750,000
Common stock warrants – shares		500,000			500,000