EARNINGS PER SHARE (Tables)

3 Months Ended

Sep. 30, 2015

Earnings Per Share [Abstract]

Schedule of income per share computed on the weighted average of outstanding common shares

	Three Months Ended
		September 30
		2015			2014
Net Income (Loss)		$	(3,746	)	$	34,701
Preferred Dividend Requirements:
6% Prior Cumulative Preferred, $5 Par Value			15,000			15,000
5% Convertible Cumulative Preferred, $20 Par Value			17,018			17,018
Total Dividend Requirements			32,018			32,018
Net Income (Loss) - Common Stockholders		$	(35,764	)	$	2,683

Schedule of diluted earnings per share calculated by including contingently issuable shares with the weighted average shares outstanding

	Three Months Ended
	September 30
	2015			2014
Weighted Average Shares - Basic		969,834			969,834
Dilutive Effect of Contingently Issuable Shares		1,033,334			1,033,334
Weighted Average Shares – Diluted		2,003,168			2,003,168
Basic Earnings (Loss) per Share	$	(0.04	)	$	0.00
Diluted Earnings (Loss) per Share	$	(0.04	)	$	0.00

Schedule of total dividends in arrears, on a per share basis

	Three Months Ended
	September 30
	2015		2014
6% Convertible
Series A	$	17	$	17
Series B		17		16
5% Convertible
Series A	$	66	$	65
Series B		66		65