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7. EARNINGS (LOSS) PER SHARE
 3 Months Ended
Sep. 30, 2012
Earnings Per Share [Abstract]  
NOTE 7 - EARNINGS (LOSS) PER SHARE

We report earnings per share in accordance with ASC 260, “Earnings Per Share.”  Basic earnings per share are computed using the weighted average number of shares outstanding during the period. Diluted earnings per share represent basic earnings per share adjusted to include the potentially dilutive effect of outstanding stock options. For the three months ended September 30, 2011, we were in a net loss position and have excluded 899,002 stock options from the calculation of diluted net loss per share because these securities are anti-dilutive. The weighted average number of shares outstanding used to compute earnings per share is as follows:

 

    Three Months Ended September 30,  
    2012     2011  
Net income (loss) attributable to parent company   $ 738,584     $ (452,584 )
                 
Weighted-average shares of common stock outstanding:                
Basic     11,832,248       11,832,284  
Diluted     12,037,036       11,832,284  
Basic earnings (loss) per share attributable to parent company stockholders   $ 0.06     $ (0.04 )
                 
Diluted earnings (loss) per share attributable to parent company stockholders   $ 0.06     $ (0.04 )