6. EARNINGS PER SHARE

9 Months Ended

Mar. 31, 2017

Earnings Per Share [Abstract]

EARNINGS PER SHARE

We report earnings per share in accordance with ASC 260, “Earnings Per Share.”  Basic earnings 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. The weighted average number of shares outstanding used to compute earnings per share is as follows:

	Three Months ended March 31,				Nine Months ended March 31,
	2017		2016		2017		2016
Net income attributable to Parent Company	$	73,478	$	391,370	$	861,357	$	1,026,536
Weighted-average shares of common stock outstanding:
Basic shares outstanding		10,519,394		10,414,536		10,495,573		10,486,606
Dilutive effect of common stock equivalents arising from stock options		265,885		215,917		265,885		215,917
Diluted shares outstanding		10,785,279		10,630,453		10,761,458		10,702,523
Basic earnings per share	$	0.01	$	0.04	$	0.08	$	0.10
Diluted earnings per share	$	0.01	$	0.04	$	0.08	$	0.10