Earnings (Loss) per Share |
(3) Earnings (Loss) per Share
Basic
earnings (loss) per share is calculated by dividing net income (loss) available to common shareholders by the weighted average number
of common shares outstanding during the period. Diluted earnings (loss) per share is based on the weighted average number of common shares
outstanding plus, where applicable, the additional potential common shares that would have been outstanding related to dilutive options,
warrants and unvested restricted stock units to the extent such shares are dilutive.
The
following table sets forth the computation of basic and diluted earnings (loss) per share of common stock for the three months ended
March 31, 2024 and 2023:
Schedule of Computation of Basic and Diluted Earnings (Loss) Per Share of Common Stock
| |
2024 | | |
2023 | |
| |
Three Months Ended March 31, | |
| |
2024 | | |
2023 | |
Basic earnings (loss) per share attributable to common stock: | |
| | | |
| | |
Numerator | |
| | | |
| | |
Net earnings (loss) | |
$ | 3,513,621 | | |
$ | (3,870,319 | ) |
| |
| | | |
| | |
Denominator | |
| | | |
| | |
Weighted avg. common shares outstanding | |
| 5,315,830 | | |
| 5,234,830 | |
| |
| | | |
| | |
Basic earnings (loss) per share attributable to common stock | |
$ | 0.66 | | |
$ | (0.74 | ) |
| |
| | | |
| | |
Diluted earnings (loss) per share attributable to common stock: | |
| | | |
| | |
Numerator | |
| | | |
| | |
Net earnings (loss) | |
$ | 3,513,621 | | |
$ | (3,870,319 | ) |
Effect of dilutive securities on net earnings (loss): | |
| | | |
| | |
Common stock warrants | |
| (40,072 | ) | |
| 98,134 | |
Total net earnings (loss) for purpose of calculating diluted net earnings (loss)
per common share | |
$ | 3,553,693 | | |
$ | (3,968,453 | ) |
Denominator | |
| | | |
| | |
Weighted avg. common shares outstanding | |
| 5,315,830 | | |
| 5,234,830 | |
Weighted average effect of dilutive securities: | |
| | | |
| | |
Stock options | |
| 34,446 | | |
| - | |
Restricted stock units | |
| 7,254 | | |
| - | |
Dilutive securities | |
| 7,254 | | |
| - | |
Total shares for purpose of calculating diluted net loss per common share | |
| 5,357,530 | | |
| 5,234,830 | |
| |
| | | |
| | |
Diluted loss per share attributable to common stock | |
$ | 0.66 | | |
$ | (0.76 | ) |
The
computation of diluted loss per share for the three months ended March 31, 2024 and 2023 does not include the following stock options
and warrants to purchase shares of common stock or unvested restricted stock units in the computation of diluted loss per share because
these instruments were antidilutive:
Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share
| |
March
31, | |
| |
2024 | | |
2023 | |
Stock options | |
| 252,251 | | |
| 262,282 | |
Unvested restricted stock
units | |
| 14,508 | | |
| - | |
Warrants | |
| 49,433 | | |
| 49,433 | |
|