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6. EARNINGS PER SHARE
 3 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
EARNINGS 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. The weighted average number of shares outstanding used to compute earnings per share is as follows:

 

   Three Months Ended September 30, 
   2016   2015 
Net income attributable to Parent Company  $262,541   $17,947 
           
Weighted-average shares of common stock outstanding:          
Basic shares outstanding   10,471,818    10,533,869 
Dilutive effect of common stock equivalents arising from stock options   258,449    148,542 
Diluted shares outstanding   10,730,267    10,682,411 
Basic earnings per share  $0.03   $0.00 
Diluted earnings per share  $0.02   $0.00