| Income (Loss) Per Share |
Income (Loss) Per Share
Income (loss) per share – basic is calculated by dividing net income (loss) by the weighted average number of shares of stock outstanding during the year, including shares issuable without additional consideration. Income per share – assuming dilution is calculated by dividing net income by the weighted average number of shares outstanding during the year adjusted for the effect of dilutive potential shares calculated using the treasury stock method.
The reconciliation of basic and diluted income per share are as follows:
| Three Months Ended
|
| March 31, 2020
|
| March 31, 2019
|
Net income:
|
|
|
|
Net income from operations
| $50,607
|
| $118,526
|
Preferred stock dividends
| (20,375)
|
| (20,636)
|
Net income available to common shareholders
| 30,232
|
| 97,890
|
|
|
|
|
Basic income per share:
|
|
|
|
Weighted average common shares outstanding used in income per share
| 14,539,675
|
| 13,741,009
|
Basic income per share
| 0.00
|
| 0.01
|
|
|
|
|
Diluted income per share:
|
|
|
|
Shares used in diluted income per share
| 16,501,851
|
| 16,248,621
|
Diluted income per share
| 0.00
|
| 0.01
|
|
|
|
|
Computation of shares used in income per share:
|
|
|
|
Weighted average shares and share equivalents outstanding – basic
| 14,539,675
|
| 13,741,009
|
Effect of dilutive stock options
| 1,741,198
|
| 2,245,133
|
Effect of dilutive warrants
| 220,978
|
| 262,479
|
Weighted average shares and share equivalents outstanding – diluted
| 16,501,851
|
| 16,248,621
|
Schedule of Anti-dilutive Securities Excluded
|
| Three Months Ended
|
| March 31, 2020
|
| March 31, 2019
|
Stock options
| 300,000
|
| 3,000
|
Preferred stock
| 875,054
|
| 987,102
|
Convertible promissory notes
| -
|
| 27,888
|
Total anti-dilutive securities excluded
| 1,175,054
|
| 1,017,990
|
Anti-dilutive securities consist of stock options and convertible promissory notes whose exercise price or conversion price, respectively, was greater than the average market price of the common stock.
|