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Earnings (Loss) per Share
3 Months Ended
Mar. 31, 2024
Earnings Per Share [Abstract]  
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:

 

   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    - 
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:

   

   March 31, 
   2024   2023 
Stock options   252,251    262,282 
Unvested restricted stock units   14,508    - 
Warrants   49,433    49,433