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8. EARNINGS PER SHARE
 12 Months Ended
Jun. 30, 2013
Earnings Per Share [Abstract]  
NOTE 8 - EARNINGS PER SHARE

We report earnings per share in accordance with ASC 260, “Earnings Per Share.”  Basic earnings (loss) 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 year ended June 30, 2012, we were in a net loss position and have excluded 1,328,170 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:

 

    Year Ended June 30,  
    2013     2012  
Net income (loss) attributable to parent company   $ 174,658     $ (128,974 )
Weighted-average shares of common stock outstanding:                
Basic     10,731,586       11,858,813  
Dilutive effect of common stock equivalents arising from stock options     212,292       –  
Diluted Outstanding shares     10,943,878       11,858,813  
Basic earnings (loss) per share   $ 0.02     $ (0.01 )
Diluted earnings (loss) per share   $ 0.02     $ (0.01 )