Note 11 - Earnings Per Share ("EPS")

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Earnings Per Share [Text Block]

11. EARNINGS PER SHARE (“EPS”)

The Company’s basic EPS is calculated using net income (loss) available to common shareholders and the weighted-average number of shares outstanding during the reporting period. Diluted EPS includes the effect from potential issuance of common stock, such as stock issuable pursuant to the exercise of stock options and warrants and the assumed conversion of convertible preferred stock.

The reconciliation of the numerator of the basic and diluted EPS calculations was as follows for the

three

month periods ended

March 

31,

2019

and

2018:

	Three Months ended March 31,
	201 9			201 8
Basic Numerator:
Net loss	$	(1,803,508	)	$	(2,191,992	)
Convertible preferred stock dividends		-			(156,162	)
Net loss available to common stockholders (basic and diluted)	$	(1,803,508	)	$	(2,348,154	)

The following table summarizes the weighted average securities that were excluded from the diluted per share calculation because the effect of including these potential shares was antidilutive due to the net losses for the

three

months ended

March 31, 2019

and

2018:

	Three Months ended March 31,
	201 9		201 8
Preferred stock		-		4,506,259
Stock options		-		4,542
Warrants		-		-
Total		-		4,510,801

The following table sets forth options and warrants which were excluded from the diluted per share calculation because the exercise price was greater than the average market price of the common shares:

	Three Months Ended March 31,
	201 9		201 8
Stock options		1,794,737		1,468,325
Warrants		3,780,976		1,398,969
Total		5,575,713		2,867,294