7. EARNINGS (LOSS) PER SHARE

6 Months Ended

Dec. 31, 2013

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 (loss) 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 six months ended December 31, 2013, we were in a net loss position and have excluded 1,078,170 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,
	2013		2012			2013			2012
Net income (loss) attributable to Parent Company	$	126,944	$	(716,735	)	$	(966,680	)	$	21,849
Weighted-average shares of common stock outstanding:
Basic shares outstanding		10,374,369		10,345,688			10,374,369			11,084,899
Dilutive effect of common stock equivalents arising from stock options		210,066		–			–			205,255
Diluted shares outstanding		10,584,435		10,345,688			10,374,369			11,290,154
Basic earnings (loss) per share	$	0.02	$	(0.07	)	$	(0.09	)	$	0.00
Diluted earnings (loss) per share	$	0.02	$	(0.07	)	$	(0.09	)	$	0.00