Note 16 - Loss from Continuing Operations per Share

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Earnings Per Share [Text Block]

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 years ended December 31, 2021 and December 31, 2020:

(in thousands, except per share data)	Years ended December 31,
	2021			2020
Numerator:
Income (loss) from continuing operations	$	1,860		$	(5,422	)
Less: net income attributable to noncontrolling interests		(2,202	)		(1,309	)
Less: dividends on preferred stock, net of tax		(494	)		(1,066	)
Loss from continuing operations attributable to common shareholders	$	(836	)	$	(7,797	)
Denominator:
Weighted average basic shares
Weighted average common shares outstanding		22,537			22,176
Weighted average diluted shares
Weighted average common shares outstanding		22,537			22,176
Effect of potentially dilutive securities (a)		—			—
Total weighted average diluted shares		22,537			22,176
Basic loss from continuing operations per share	$	(0.04	)	$	(0.35	)
Diluted loss from continuing operations per share	$	(0.04	)	$	(0.35	)

(a) Potentially dilutive securities consist of 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 years ended December 31, 2021 and December 31, 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 from continuing operations per share:

(in thousands)	Years ended December 31,
	2021		2020
Unvested restricted stock awards		1,252,754		500,000
Warrants		4,573,765		4,923,765
Convertible preferred stock		1,060,831		1,142,975
Total		6,887,350		6,566,740