7. Earnings (Loss) per common share

9 Months Ended

Mar. 31, 2015

Equity [Abstract]

Earnings (Loss) per common share

Basic earnings (loss) per common share are computed by dividing net income (loss) by the weighted-average number of shares outstanding. Diluted earnings (loss) per common share include the dilutive effect of stock options, if any.

Earnings (Loss) per common share was computed as follows:

	For the Three Month		For the Nine Month
	Periods Ended		Periods Ended
	March 31,		March 31,
	2015	2014	2015	2014
Net income (loss)	$ 19,000	($ 59,700)	($ 280,300)	$ 77,500
Weighted average common
shares outstanding	1,479,112	1,390,433	1,477,375	1,382,519
Effect of dilutive
securities	-	-	-	9,741
Weighted average dilutive
common shares outstanding	1,479,112	1,390,433	1,477,375	1,392,260
Basic earnings (loss) per
common share	$ .01	($ .04)	($ .19)	$ .06
Diluted earnings (loss) per
common share	$ .01	($ .04)	($ .19)	$ .06

Approximately 51,000 shares of the Company's Common Stock issuable upon the exercise of outstanding stock options were excluded from the calculation of diluted earnings per common share for the three and nine month periods ended March 31, 2015, because the effect would be anti-dilutive.

Approximately 61,000 and 40,000 shares of the Company's common stock issuable upon the exercise of outstanding options were excluded from the calculation of diluted earnings per common share for each of the three and nine month periods ended March 31, 2014, because the effect would be anti-dilutive.