BASIC AND FULLY DILUTED NET LOSS PER COMMON SHARE

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

BASIC AND FULLY DILUTED NET LOSS PER COMMON SHARE

7.        BASIC AND FULLY DILUTED NET LOSS PER COMMON SHARE

The following table sets forth the computation of basic and fully diluted net loss per common share for the three months ended March 31, 2022 and 2021: 

	Three Months Ended March 31,
	2022			2021
Numerator:
Net loss	$	(309,395	)	$	(1,623,527	)
Denominator:
Weighted average common shares:
Denominator for basic calculation		51,818,676			50,351,971
Weighted average effects of potentially diluted common stock:
Stock options (calculated using the treasury method)		–			–
Unvested restricted stock grants		–			–
Denominator for fully diluted calculation		51,818,676			50,351,971
Net loss per common share:
Basic	$	(0.01	)	$	(0.03	)
Fully diluted	$	(0.01	)	$	(0.03	)

Due to the net loss for the three months ended March 31, 2022, the effect of all potential common share equivalents was anti-dilutive, and therefore, all such shares were excluded from the computation of diluted weighted average shares outstanding for that period. For the three months ended March 31, 2022, the amount of potential common share equivalents excluded were 1,891,800 for stock options and 1,254,000 for unvested restricted stock awards. Due to the net loss for the three months ended March 31, 2021, the effect of all potential common share equivalents was anti-dilutive, and therefore, all such shares were excluded from the computation of diluted weighted average shares outstanding for that period. For the three months ended March 31, 2021, the amount of potential common share equivalents excluded were 2,241,014 for stock options and 1,975,000 for unvested restricted stock awards.