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Income (Loss) Per Share

6 Months Ended

Dec. 31, 2012

Income Loss Per Share

Income (Loss) Per Share

8. Income (Loss) Per Share

Basic earnings (loss) per share is computed by dividing the weighted-average number of shares of Class A common stock outstanding, during each period presented. Diluted earnings per share is computed similarly to basic earnings per share except that it reflects the potential dilution that could occur if dilutive securities or other obligations to issue shares of Class A common stock were exercised or converted into shares of Class A common stock.  The computation for basic and diluted loss per share are described in the following table:

		(unaudited)							(unaudited)
		Three months ended							Six months ended
		December 31,								December 31,
		2012				2011				2012				2011
Net income (loss)		$	149,898			$	(343,299	)		$	251,119			$	(541,746	)
Weighted average common shares outstanding:
Basic			11,801,684				9,761,129				11,786,793				9,753,618
Effect of dilutive securities:
Options to purchase common stock			-				-				-				-
Restricted stock units			594,700				-				594,700				-
Common  stock warrants			332,102				-				357,102				-
Convertible debentures			-				-				-				-
Diluted			12,728,486				9,761,129				12,738,595				9,753,618
Earnings (Loss) per common share:
Basic		$	0.01			$	(0.04	)		$	0.02			$	(0.06	)
Diluted		$	0.01			$	(0.04	)		$	0.02			$	(0.06	)
Excluded from computation:
Options to purchase common stock			576,393				590,233				576,393				590,233
Restricted stock units			-				594,700				-				594,700
Common  stock warrants			3,734,669				2,364,492				3,709,669				2,364,492
Convertible debentures			706,169				706,169				706,169				706,169
			5,017,231				4,255,594				4,992,231				4,255,594

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The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 45

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 55

-Paragraph 52

-URI http://asc.fasb.org/extlink&oid=16381557&loc=d3e4984-109258



Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (a)

-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257



Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 45

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256



Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 128

-Paragraph 40

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 225

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-Section S99

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-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

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