7. EARNINGS (LOSS) PER SHARE

6 Months Ended

Dec. 31, 2012

Earnings Per Share [Abstract]

NOTE 7 - EARNINGS (LOSS) 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 period. Diluted earnings per share represent basic earnings per share adjusted to include the potentially dilutive effect of outstanding stock options.

For the three months ended December 31, 2012, we were in a net loss position and have excluded 1,273,170 stock options from the calculation of diluted net loss per share because these securities are anti-dilutive. For the three and six months ended December 31, 2011, we were in a net loss position and have excluded 876,502 stock options from the calculation of diluted net loss per share because these securities are anti-dilutive. The weighted average number of shares outstanding used to compute earnings per share is as follows:

	Three Months ended December 31,						Six Months Ended December 31,
	2012			2011			2012		2011
Net income (loss) attributable to parent company stockholders	$	(716,735	)	$	(488,190	)	$	21,849	$	(940,774	)
Weighted-average shares of common stock outstanding:
Basic		10,345,688			11,837,559			11,084,899		11,834,788
Diluted		10,345,688			11,837,559			11,290,154		11,834,788
Basic earnings (loss) per share attributable to parent company stockholders	$	(0.07	)	$	(0.04	)	$	0.00	$	(0.08	)
Diluted earnings (loss) per share attributable to parent company stockholders	$	(0.07	)	$	(0.04	)	$	0.00	$	(0.08	)