8. EARNINGS PER SHARE

12 Months Ended

Jun. 30, 2015

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,
	2015		2014
Net income (loss) attributable to Parent Company	$	760,008	$	(972,036	)
Weighted-average shares of common stock outstanding:
Basic		10,533,869		10,386,881
Dilutive effect of common stock equivalents arising from stock options		106,864		–
Diluted Outstanding shares		10,640,733		10,386,881
Basic earnings (loss) per share	$	0.07	$	(0.09	)
Diluted earnings (loss) per share	$	0.07	$	(0.09	)