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6. EARNINGS (LOSS) PER SHARE

9 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

EARNINGS (LOSS) PER SHARE

NOTE 6 – EARNINGS (LOSS) 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 three and nine months ended March 31, 2019, we were in a net loss position and have excluded 299,000 stock options from the calculation of diluted net loss per shares because these securities are anti-dilutive. The weighted average number of shares outstanding used to compute loss per share is as follows:

		Three Months ended March 31,								Nine Months Ended March 31,
		2020				2019				2020				2019
Net income (loss) attributable to Parent Company		$	988,308			$	(157,814	)		$	1,823,124			$	(494,459	)
Weighted-average shares of common stock outstanding:
Basic shares outstanding			10,580,576				10,570,203				10,574,841				10,570,203
Dilutive effect of common stock equivalents arising from stock options			119,197				–				119,197				–
Diluted shares outstanding			10,699,773				10,570,203				10,694,038				10,570,203
Basic income (loss) per share		$	0.09			$	(0.01	)		$	0.17			$	(0.05	)
Diluted income (loss) earnings per share		$	0.09			$	(0.01	)		$	0.17			$	(0.05	)

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- References

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI http://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257

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