BASIC AND FULLY DILUTED NET INCOME (LOSS) PER COMMON SHARE

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

BASIC AND FULLY DILUTED NET INCOME (LOSS) PER COMMON SHARE

7.        BASIC AND FULLY DILUTED NET INCOME (LOSS) PER COMMON SHARE

The following table sets forth the computation of basic and fully diluted net income (loss) per common share for the three and nine months ended September 30, 2022 and 2021: 

	Three Months Ended September 30,					Nine Months Ended September 30,
	2022		2021			2022		2021
Numerator:
Net income (loss)	$	852,109	$	(271,006	)	$	314,680	$	(2,826,500	)
Denominator:
Weighted average common shares:
Denominator for basic calculation		52,142,225		51,154,725			51,968,496		50,754,652
Weighted average effects of potentially diluted common stock:
Stock options (calculated using the treasury method)		594,553		–			457,256		–
Unvested restricted stock awards		628,247		–			250,955		–
Denominator for fully diluted calculation		53,365,025		51,154,725			52,676,707		50,754,652
Net income (loss) per common share:
Basic	$	0.02	$	(0.01	)	$	0.01	$	(0.06	)
Fully diluted	$	0.02	$	(0.01	)	$	0.01	$	(0.06	)

Due to the net loss for the three and nine months ended September 30, 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 both periods. For the three and nine months ended September 30, 2021, the amount of potential common share equivalents excluded were 1,923,200 for stock options and 1,530,000 for unvested restricted stock awards.