7. EARNINGS (LOSS) PER SHARE

3 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

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 three month ended September 30, 2013, we were in a net loss position and have excluded 1,056,170 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 September 30,
	2014		2013
Net income (loss) attributable to Parent Company	$	283,148	$	(1,093,624	)
Weighted-average shares of common stock outstanding:
Basic		10,533,869		10,374,369
Dilutive effect of common stock equivalents arising from stock options		129,401		–
Diluted Outstanding shares		10,663,270		10,374,369
Basic earnings (loss) per share	$	0.03	$	(0.11	)
Diluted earnings (loss) per share	$	0.03	$	(0.11	)