1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Mar. 31, 2013

Accounting Policies [Abstract]

Income (Loss) per Share

The following is the calculation of income (loss) per share for the three and nine months ended March 31, 2013 and 2012:

	Three Months Ended March 31						Nine Months Ended March 31
	2013			2012			2013			2012
Net Income (Loss) – Basic	$	(349,994	)	$	(492,139	)	$	(1,614,572	)	$	1,181,427
Interest Expense on Senior Convertible Notes		–			–			–			28,958
Net Income (Loss) – Diluted	$	(349,994	)	$	(492,139	)	$	(1,614,572	)	$	1,210,385
Basic Weighted Average Shares Outstanding		4,279,467			1,245,339			3,211,274			1,135,432
Potentially Dilutive Securities		–			–			–			108,095
Diluted Weighted Average Shares Outstanding		4,279,467			1,245,339			3,211,274			1,243,527
Income (Loss) Per Share
Basic	$	(0.08	)	$	(0.40	)	$	(0.50	)	$	1.04
Diluted	$	(0.08	)	$	(0.40	)	$	(0.50	)	$	0.97