Basic Loss Per Share of Common Stock

9 Months Ended

Mar. 31, 2014

Notes to Financial Statements

Note 2 - Basic Loss Per Share of Common Stock

	Three Months Ended					Nine Months Ended
	March 31,			March 31,		March 31,			March 31,
	2014			2013		2014			2013
Income (loss) (numerator)	$	(3,538,491	)	$	42,614	$	(3,418,609	)	$	171,943
Basic Shares (denominator)		47,487,668			42,927,429		46,542,584			40,755,119
Fully Diluted Shares (denominator)		53,383,320			45,287,429		51,785,796			43,115,119
Basic Income (Loss) Per Share	$	(0.07	)	$	0.00	$	(0.07	)	$	0.00
Fully Diluted Income (Loss) Per Share	$	NA		$	0.00	$	NA		$	0.00

The basic income/loss per share of common stock is based on the weighted average number of shares issued and outstanding during the period of the financial statements. Stock warrants convertible into 4,860,000 and 7,193,333 shares of common stock for the periods ended March 31, 2013 and 2014, respectively, are included in the fully diluted income per share calculation.