Note 3 - Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE

3:

               

EARNINGS/(LOSS) PER SHARE

Basic income/(loss) per share was calculated using the weighted average number of shares outstanding of

150,832,451

 for the year ended

December 31, 2018

and

147,865,246

for the year ended

December 31, 2017.

Antidilutive shares aggregating

13,390,677

 for the year ended

December 31, 2018

and

43,343,224

for the year ended

December 31, 2017

have been omitted from the calculation of dilutive income/(loss) per share as the shares were antidilutive. The table below provides a reconciliation of anti-dilutive securities outstanding as of

December 31, 2018

and

December 31, 2017.

Anti-dilutive security	December 31, 2018		December 31, 2017
Employee stock options		725,000		4,225,000
Warrants		12,550,000		27,020,000
Convertible notes		-0-		11,980,000
Shares issuable for accrued interest		115,677		118,224
Total		13,390,677		43,343,224

The employee stock options are exercisable at prices ranging from

$0.17

to

$0.34

per share. The exercise price on the stock warrants range from

$0.25

to

$0.60

per share. Shares issuable upon conversion of Convertible Debentures have conversion prices ranging from

$0.25

to

$0.50

per share.

Provided below is the reconciliation between numerators and denominators of the basic and diluted income/(loss) per shares. 

	For the year ended
	December 31, 2018								December 31, 2017
	Income/(loss)			Shares		Per-share			Income/(loss)		Shares		Per-share
	numerator			denominator		amount			numerator		denominator		amount
Basic EPS	$	3,687,965			150,832,451	$	0.02		$	2,967,218		147,865,246	$	0.02
Effect of dilutive securities		(280,117	)		13,786,417		(0.02	)		4,766		312,738		-0-
Diluted EPS	$	3,407,848			164,618,868	$	0.02		$	2,971,984		148,177,984	$	0.02