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7. EARNINGS PER SHARE | 12 Months Ended
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Jun. 30, 2020
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | NOTE 7 - 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 (loss) per share represent basic earnings (loss) per share adjusted to include the potentially dilutive effect of outstanding stock options by using the treasury stock method that the proceeds we receive from an in-the-money option exercise are used towards repurchasing common shares in the market. For the year ended June 30, 2020, we have calculated the diluted effect of common stock arising from 251,291 stock options. For the year ended June 30, 2019, we were in a net loss position and have excluded 299,000 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 loss per share is as follows:
|  | Year Ended June 30, |
|  | 2020 |  |  | 2019 |
Net income (loss) attributable to Parent Company |  | $ | 5,550,618 |  |  | $ | (1,276,124 | )
Weighted-average shares of common stock outstanding: |  |  |  |  |  |  |  |
Basic |  |  | 10,581,499 |  |  |  | 10,570,203 |
Dilutive effect of common stock equivalents arising from stock options |  |  | 134,480 |  |  |  | – |
Diluted Outstanding shares |  |  | 10,715,979 |  |  |  | 10,570,203 |
Basic earnings (loss) per share attributable to Parent Company stockholders |  | $ | 0.52 |  |  | $ | (0.12 | )
Diluted earnings (loss) per share attributable to Parent Company stockholders |  | $ | 0.52 |  |  | $ | (0.12 | )

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