Significant Accounting Policies

3 Months Ended

Mar. 31, 2021

Significant Accounting Policies

Significant Accounting Policies

2.            Significant Accounting Policies

Net Loss Per Share –Basic net loss per common share is computed by dividing the net loss for the period by the weighted average number of shares of common stock outstanding during the period. Although there were warrants and stock options outstanding as of March 31, 2021 and 2020, no potential common shares are included in the computation of any diluted per share amount, as they would be antidilutive. Consequently, diluted net loss per share as presented in the condensed consolidated financial statements is equal to basic net loss per share for the three months ended March 31, 2021 and 2020. The calculation of diluted earnings per share for 2021 did not include 486,408 shares and 429,791 shares issuable pursuant to the exercise of outstanding common stock options and warrants, respectively, as of March 31, 2021 as the effect would be antidilutive. The calculation of diluted earnings per share for 2020 did not include 166,008 shares and 858,698 shares issuable pursuant to the exercise of outstanding common stock options and warrants, respectively, as of March 31, 2020 as the effect would be antidilutive.

Fair Value - The fair values of cash and cash equivalents, accounts payable and accrued liabilities approximate their carrying values because of the short-term maturities of these instruments.