Note 15 - Loss From Continuing Operations Per Share

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE 15 LOSS FROM CONTINUING OPERATIONS PER SHARE

The following table sets forth the reconciliation of numerators and denominators for the basic and diluted loss from continuing operations per share computation for the three and nine months ended September 30, 2021 and September 30, 2020:

(in thousands, except per share data)	Three months ended September 30,						Nine months ended September 30,
	2021			2020			2021			2020
Numerator:
(Loss) income from continuing operations	$	(226	)	$	(1,124	)	$	417		$	(2,944	)
Less: net income attributable to noncontrolling interests		(782	)		(112	)		(1,469	)		(941	)
Less: dividends on preferred stock		(86	)		(230	)		(409	)		(831	)
Loss from continuing operations attributable to common shareholders	$	(1,094	)	$	(1,466	)	$	(1,461	)	$	(4,716	)
Denominator:
Weighted average basic shares
Weighted average common shares outstanding		22,732			22,211			22,440			22,164
Weighted average diluted shares
Weighted average common shares outstanding		22,732			22,211			22,440			22,164
Effect of potentially dilutive securities (a)		—			—			—			—
Unvested restricted stock awards		—			—			—			—
Warrants		—			—			—			—
Convertible preferred stock		—			—			—			—
Total weighted average diluted shares		22,732			22,211			22,440			22,164
Basic loss per share	$	(0.05	)	$	(0.07	)	$	(0.07	)	$	(0.21	)
Diluted loss per share	$	(0.05	)	$	(0.07	)	$	(0.07	)	$	(0.21	)

(a) Potentially dilutive securities consist of stock options, unvested restricted stock awards, warrants and convertible preferred stock. Because the Company is reporting a loss from continuing operations attributable to common shareholders for the three and nine months ended September 30, 2021 and September 30, 2020, all potentially dilutive securities outstanding were excluded from the calculation of diluted loss from continuing operations per share since their inclusion would have been anti-dilutive.

Basic loss from continuing operations per share is calculated using weighted-average common shares outstanding. Diluted loss from continuing operations per share is calculated using weighted-average diluted shares. Weighted-average diluted shares is calculated by adding the effect of potentially dilutive securities to weighted-average common shares outstanding.

The following weighted-average potentially dilutive securities are not included in the diluted loss from continuing operations per share calculations above because they would have had an antidilutive effect on the loss per continuing operations per share:

	Three months ended September 30,				Nine months ended September 30,
	2021		2020		2021		2020
Unvested restricted stock awards		1,240,000		500,000		1,240,000		500,000
Warrants		4,573,765		4,923,765		4,573,765		4,923,765
Convertible preferred stock		1,142,975		1,142,975		1,142,975		1,142,975
Total	$	6,956,740	$	6,566,740	$	6,956,740	$	6,566,740