Note 3 - Net Income (Loss) Per Common Share - Basic and Diluted

6 Months Ended

Jun. 30, 2023

Notes to Financial Statements

Earnings Per Share [Text Block]

(3)       Net Income (Loss) Per Common Share - Basic and Diluted

For the three and six months ended June 30, 2023, the Company had 26,012,500 stock options outstanding, 7,000,000 restricted stock units outstanding and 4,063 outstanding shares of Series C redeemable convertible preferred stock (Series C Preferred Stock), each of which were not included in the computation of diluted income (loss) per common share because they would be anti-dilutive.

For the six months ended June 30, 2022, the Company had 12,700,000 stock options outstanding, and 4,063 outstanding shares of Series C Preferred Stock, each of which were not included in the computation of diluted income per common share because they would be anti-dilutive. The Company used the treasury stock method in calculating weighted average common shares diluted.

For the three months ended June 30, 2022, the Company had 26,134,500 stock options outstanding, and 4,063 outstanding shares of Series C Preferred Stock, each of which were not included in the computation of diluted income (loss) per common share because they would be anti-dilutive. The Company used the treasury stock method in calculating weighted average common shares diluted.

The table below shows the calculation of diluted shares:

	3 Months Ended				6 Months Ended
	June 30,		June 30,		June 30,		June 30,
	2023		2022		2023		2022
Weighted average common shares outstanding - basic		517,926,610		510,499,497		516,746,718		506,985,962
Effects of dilutive shares
Stock Options		—		—		—		5,583,152
Series C Preferred Stock		—		—		—		—
Weighted average common shares outstanding - diluted		517,926,610		510,499,497		516,746,718		512,569,114

The table below summarizes common stock equivalents outstanding at June 30, 2023 and 2022:

	June 30,
	2023		2022
Stock options		26,012,500		26,134,500
Restricted Stock Units		7,000,000		—
Shares of Series C Preferred Stock		40,630,000		40,630,000
		73,642,500		66,764,500