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

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

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

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

The following table sets forth the computation of basic and fully diluted net loss per common share for the years ended December 31, 2021 and 2021: 

	2022		2021
Numerator:
Net income (loss)	$	1,027,775	$	(2,721,334	)
Denominator:
Weighted average common shares:
Denominator for basic calculation		52,048,127		50,975,794
Weighted average effects of potentially diluted common stock:
Stock options (calculated under treasury method)		505,934		–
Unvested restricted stock awards		379,194		–
Denominator for fully diluted calculation	$	52,933,255	$	50,975,794
Net income (loss) per common share:
Basic	$	0.02	$	(0.05	)
Fully diluted	$	0.02	$	(0.05	)

Due to the net loss for the year ended December 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 the year ended December 31, 2021, the amount of potential common share equivalents excluded were 1,920,000 for stock options and 1,336,000 for unvested restricted stock awards.