Quarterly report pursuant to Section 13 or 15(d)

Note 4 - Earnings/(Loss) Per Share

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Note 4 - Earnings/(Loss) Per Share
 9 Months Ended
Mar. 31, 2013
Earnings Per Share [Text Block]
NOTE 4 – EARNINGS PER SHARE

Basic earnings per share are computed based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding stock options, warrants, convertible note payable and, stock awards.

The components of basic and diluted earnings per share were as follows:

For the nine months ended March 31, 2013
 
Net Income
   
Shares
   
Per Share
 
Basic income per share:
  $ 4,714,943       7,961,843     $ 0.59  
Net income available to common shareholders
                 
Effect of dilutive securities
                       
Stock options
            36,186          
Warrants
            27,832          
Diluted income per share
  $ 4,714,943       8,025,861     $ 0.59  

For the nine months ended March 31, 2012
 
Net Income
   
Shares
   
Per Share
 
Basic loss per share:
  $ 545,086       5,795,387     $ 0.09  
Net income available to common shareholders
                 
Effect of dilutive securities
                       
Stock options
            8,791          
Warrants
            31,742          
Diluted loss per share
  $ 545,086       5,835,920     $ 0.09  

Convertible notes, being anti-dilutive, have not been considered in diluted number of shares for the nine months ended March 31, 2013 and 2012.