NOTE 7. STOCK-BASED COMPENSATION
Stock-based compensation expense was $58,960 for the second quarter and first six months of fiscal 2015, and $53,200 for the second quarter and first six months of fiscal 2014. Stock-based compensation expenses for the quarters and six months ended September 30, 2014 and 2013 were due to the issuance of automatic stock options to our non-employee directors on their election or reelection to our Board. We calculate the share-based compensation expense using the Black-Scholes standard option-pricing model.