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EARNINGS PER SHARE
 12 Months Ended
Jun. 30, 2016
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
NOTE 12- EARNINGS PER SHARE
 
The following table presents a reconciliation of basic and diluted net income per share:
  
 
 
For the years ended June 30,
 
 
 
2016
 
2015
 
Net income
 
$
8,292,822
 
$
7,440,400
 
Net income attributable to common stock holders
 
 
8,136,896
 
 
7,280,278
 
Weighted average shares used in basic computation
 
 
19,320,882
 
 
19,320,882
 
Diluted effect of contingently redeemable convertible preferred stock
 
 
-
 
 
-
 
Weighted average shares used in diluted computation
 
 
19,320,882
 
 
19,320,882
 
Earnings per share – Basic and diluted:
 
 
 
 
 
 
 
Net income
 
 
0.43
 
 
0.39
 
Less: Net income attributable to non-controlling interest
 
 
(0.01)
 
 
(0.01)
 
Net income attributable to controlling interest
 
 
0.42
 
 
0.38