8. EARNINGS PER SHARE

12 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

NOTE 8 - EARNINGS 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 year ended June 30, 2014, we were in a net loss position and have excluded 895,334 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:

	Year Ended June 30,
	2014			2013
Net income (loss) attributable to Parent Company	$	(972,036	)	$	174,658
Weighted-average shares of common stock outstanding:
Basic		10,386,881			10,731,586
Dilutive effect of common stock equivalents arising from stock options		–			212,292
Diluted Outstanding shares		10,386,881			10,943,878
Basic earnings (loss) per share	$	(0.09	)	$	0.02
Diluted earnings (loss) per share	$	(0.09	)	$	0.02