NOTE 7 - EARNINGS PER SHARE

3 Months Ended

Sep. 30, 2011

Earnings Per Share [Text Block]

NOTE 7 – EARNINGS PER SHARE

We report earnings per share in accordance with ASC 260, “Earnings Per Share.”  Basic earnings per share are computed using the weighted average number of shares outstanding during the fiscal year. Diluted earnings per share represent basic earnings per share adjusted to include the potentially dilutive effect of outstanding stock options. The weighted average number of shares outstanding used to compute earnings per share is as follows:

	Three Months Ended September 30,
	2011			2010
Net income (loss) before non-controlling interests	$	(733,582	)	$	962,653
Non-controlling interests in net loss of subsidiary		280,998			164,166
Net income (loss)	$	(452,584	)	$	1,126,819
Weighted-average shares of common stock outstanding:
Basic		11,832,284			13,464,361
Dilutive effect of common stock equivalents arising from stock options		205,138			164,534
Outstanding Shares (Diluted)		12,037,422			13,628,895
Basic earnings (loss) per share	$	(0.04	)	$	0.08
Diluted earnings (loss) per share	$	(0.04	)	$	0.08