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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Mar. 31, 2015

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Earnings Per Share

Diluted EPS reflects the potential dilution from the exercise or conversion of all dilutive securities into common stock based on the average market price of common shares outstanding during the period. For the three and nine months ended March 31, 2015 and March 31, 2014, diluted EPS for common shareholders includes 128 shares upon conversion of Class C Common.

	Three months ended March 31, 2015						Three months ended March 31, 2014
Basic		Total		Common Stock		Class C Common Stock		Total		Common Stock		Class C Common Stock
Numerator:
Net income Available to common stockholders	$	2,019	$	1,888	$	33	$	1,739	$	1,625	$	29
Denominator:
Weighted average shares outstanding		6,050		6,050		383		6,022		6,022		383
Basic income per common share	$	0.33	$	0.31	$	0.09	$	0.29	$	0.27	$	0.08
Diluted
Denominator:
Weighted average shares outstanding				6,050		383				6,022		383
Stock options				—		—				—		—
Convertible Class C Stock				128		—				128		—
Total Denominator for diluted earnings per share				6,178		383				6,150		383
Diluted income per common share			$	0.31	$	0.09			$	0.26	$	0.08

	Nine months ended March 31, 2015						Nine months ended March 31, 2014
Basic		Total		Common Stock		Class C Common Stock		Total		Common Stock		Class C Common Stock
Numerator:
Net income Available to common stockholders	$	7,212	$	6,743	$	119	$	6,319	$	5,907	$	105
Denominator:
Weighted average shares outstanding		6,050		6,050		383		6,002		6,002		383
Basic income per common share	$	1.19	$	1.11	$	0.31	$	1.05	$	0.98	$	0.27
Diluted
Denominator:
Weighted average shares outstanding				6,050		383				6,002		383
Stock options				—		—				—		—
Convertible Class C Stock				128		—				128		—
Total Denominator for diluted earnings per share				6,178		383				6,130		383
Diluted income per common share			$	1.09	$	0.31			$	0.96	$	0.27