Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2023

Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

The Company used the two-class method to compute net income per common share. These participating securities included the Company’s convertible preferred stock which accrues dividends payable. The two-class method requires earnings for the period to be allocated between common stock and participating securities based upon their respective rights to receive distributed and undistributed earnings.

Under the two-class method, for periods with net income, basic net income per common share is computed by dividing the net income attributable to common stockholders by the weighted average number of shares of common stock outstanding during the period. Net income attributable to common stockholders is computed by subtracting from net income the portion of current period earnings that the participating securities would have been entitled to receive pursuant to their dividend rights had all of the period’s earnings been distributed. No such adjustment to earnings is made during periods with a net loss, as the holders of the participating securities have no obligation to fund losses.

Diluted net income per common share is computed under the two-class method by using the weighted average number of shares of common stock outstanding, plus, for periods with net income attributable to common stockholders, the potential dilutive effects of stock options. The Company analyzed the potential dilutive effect of any outstanding dilutive securities under the “if-converted” method and treasury-stock method when calculating diluted earnings per share, in which it is assumed that the outstanding participating securities convert into common stock at the beginning of the period or date of issuance, if later. The Company reports the more dilutive of the approaches (two-class or “if-converted”) as its diluted net income per share during the period. per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the year. As of June 30, 2023 and 2022, the average market prices for the years then ended are less than the exercise price of all the outstanding stock options and, therefore, the inclusion of the stock options would be anti-dilutive.

	For the Years Ended June 30,
	2023		2022
Numerator:
Numerator for basic earnings (loss) per share:
Net income	$	456,826	$	18,081
Less undeclared dividends on convertible stocks	51,600		51,600
Less net income allocated to convertible preferred stocks	183,695		—
Net income (loss) applicable to common stockholders	$	221,531	$	(33,519)
Numerator for diluted earnings (loss) per share:
Net income	$	456,826	$	18,081
Undeclared dividends on convertible stocks	51,600		51,600
Net income (loss) applicable to convertible common stockholders	$	405,226	$	(33,519)
Denominator:
Denominator for basic earnings per share - weighted average shares outstanding	7,415,329		7,415,329
Weighted average preferred stock converted to common stock	6,148,873		5,804,873
Denominator for diluted earnings per share - weighted average and assumed conversion	13,564,202		13,220,202
Net income per share:
Basic net income per share	$	0.03	$	0.00
Diluted net income per share	$	0.03	$	0.00

The following table summarizes convertible preferred stock and securities that, if exercised would have an anti-dilutive effect

on earnings per share.

	For the Years Ended June 30,
	2023	2022
Stock options	157,000	157,000
Convertible preferred stock	—	—
Total potential dilutive securities not included in income per share	157,000	157,000

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	For the Years Ended June 30,
	2023		2022
Numerator:
Numerator for basic earnings (loss) per share:
Net income	$	456,826	$	18,081
Less undeclared dividends on convertible stocks	51,600		51,600
Less net income allocated to convertible preferred stocks	183,695		—
Net income (loss) applicable to common stockholders	$	221,531	$	(33,519)
Numerator for diluted earnings (loss) per share:
Net income	$	456,826	$	18,081
Undeclared dividends on convertible stocks	51,600		51,600
Net income (loss) applicable to convertible common stockholders	$	405,226	$	(33,519)
Denominator:
Denominator for basic earnings per share - weighted average shares outstanding	7,415,329		7,415,329
Weighted average preferred stock converted to common stock	6,148,873		5,804,873
Denominator for diluted earnings per share - weighted average and assumed conversion	13,564,202		13,220,202
Net income per share:
Basic net income per share	$	0.03	$	0.00
Diluted net income per share	$	0.03	$	0.00

The following table summarizes convertible preferred stock and securities that, if exercised would have an anti-dilutive effect

on earnings per share.

	For the Years Ended June 30,
	2023	2022
Stock options	157,000	157,000
Convertible preferred stock	—	—
Total potential dilutive securities not included in income per share	157,000	157,000

Deferred Revenue, by Arrangement, Disclosure [Table Text Block]

	Years ended June 30,
	2023		2022
Beginning of Year	$	333,000	$	364,000
Additions	717,000		692,000
Revenue Recognized	(624,000)		(722,000)
End of Year	$	426,000	$	333,000