EARNINGS PER SHARE (Tables)

9 Months Ended

Mar. 31, 2016

Earnings Per Share [Abstract]

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

	Three Months Ended						Nine Months Ended
	March 31						March 31
	2016			2015			2016			2015
Net Income (Loss)	$	(78,515	)	$	(34,803	)	$	(9,579	)	$	142,437
Preferred Dividend Requirements:
6% Prior Cumulative Preferred, $5 Par Value		15,000			15,000			45,000			45,000
5% Convertible Cumulative Preferred, $20 Par Value		17,018			17,018			51,054			51,054
Total Dividend Requirements		32,018			32,018			96,054			96,054
Net Income (Loss) - Common
Stockholders	$	(110,533	)	$	(66,821	)	$	(105,633	)	$	46,383
Weighted Average Shares - Basic		969,834			969,834			969,834			969,834
Dilutive Effect of Contingently Issuable Shares		1,033,334			1,033,334			1,033,334			1,033,334
Weighted Average Shares – Diluted		2,003,168			2,003,168			2,003,168			2,003,168
Basic Earnings per Share	$	(0.11	)	$	(0.07	)	$	(0.11	)	$	0.05
Diluted Earnings per Share	$	(0.11	)	$	(0.07	)	$	(0.11	)	$	0.02

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

	Nine Months Ended
	March 31
	2016		2015
6% Convertible
Series A	$	17	$	17
Series B		17		16
5% Convertible
Series A	$	67	$	66
Series B		67		66