Earnings Per Common Share

9 Months Ended

Sep. 30, 2017

Earnings Per Common Share [Abstract]

Earnings Per Common Share

(5)  Earnings per Common Share

We report basic earnings per common share, which excludes the effect of potentially dilutive securities, and diluted earnings per common share which include the effect of all potentially dilutive securities unless their impact is anti-dilutive. The following are reconciliations of the numerators and denominators of our basic and diluted earnings per share, (in thousands except for share and per share amounts):

	For the Three Months Ended				For the Nine Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
Income (numerator):
Net loss	$	(315)	$	(908)	$	(706)	$	(3,939)
Weighted average shares (denominator):
Weighted average shares – basic		10,614,402		6,093,579		9,899,696		6,088,834
Dilution effect of share-based compensation, treasury method		—		—		—		—
Weighted average shares – dilutive		10,614,402		6,093,579		9,899,696		6,088,834
Loss per share – Basic and Dilutive:
Basic	$	(0.03)	$	(0.15)	$	(0.07)	$	(0.65)
Dilutive	$	(0.03)	$	(0.15)	$	(0.07)	$	(0.65)

For the nine months ended September 30, 2016, 152 shares were excluded from dilutive shares as they would have been anti-dilutive.  The 152 shares excluded from the dilutive share calculation represents shares calculated using the treasury method for options issued to the Company’s directors in which the exercise price was lower than the average market price each quarter.  In addition, options issued to the Company’s directors in which the exercise price was higher than the average market price each quarter was also excluded from diluted shares as they would have been anti-dilutive.