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7. EARNINGS (LOSS) PER SHARE
 9 Months Ended
Mar. 31, 2013
Notes to Financial Statements  
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 and nine months ended March 31, 2013, we were in a net loss position and have excluded 1,273,170 stock options from the calculation of diluted net loss per share because these securities are anti-dilutive. For the three and nine months ended March 31, 2012, we were in a net loss position and have excluded 876,502 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 March 31,     Nine Months Ended March 31,  
    2013     2012     2013     2012  
Net loss attributable to parent company stockholders   $ (53,571 )   $ (634,560 )   $ (31,722 )   $ (1,575,334 )
Weighted-average shares of common stock outstanding:                                
Basic     10,374,369       11,882,971       10,850,658       11,850,790  
Diluted     10,374,369       11,882,971       10,850,658       11,850,790  
Basic loss per share attributable to parent company stockholders   $ (0.01 )   $ (0.05 )   $ (0.00 )   $ (0.13 )
Diluted loss per share attributable to parent company stockholders   $ (0.01 )   $ (0.05 )   $ (0.00 )   $ (0.13 )