7. EARNINGS (LOSS) PER SHARE

6 Months Ended

Dec. 31, 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 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 were 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,
	2014		2013		2014		2013
Net income (loss) attributable to Parent Company	$	424,480	$	126,944	$	707,628	$	(966,680	)
Weighted-average shares of common stock outstanding:
Basic shares outstanding		10,533,869		10,374,369		10,533,869		10,374,369
Dilutive effect of common stock equivalents arising from stock options		128,010		210,066		128,010		–
Diluted shares outstanding		10,661,879		10,584,435		10,661,879		10,374,369
Basic earnings (loss) per share	$	0.04	$	0.02	$	0.07	$	(0.09	)
Diluted earnings (loss) per share	$	0.04	$	0.02	$	0.07	$	(0.09	)