Earnings per Share

Diluted EPS assumes the dilutive effect of outstanding common stock warrants, UPOs and RSUs, all using the treasury stock method, using the “if-converted” method.



	Three months ended March 31,
	2020			2019
(in thousands, except per share amounts)				(As Recast)
EPS numerator:
Net income (loss)	$	(52	)	$	1,847

EPS denominator:
Weighted average shares outstanding – basic	7,798			7,643
Impact of dilutive securities	—			25
Weighted average shares outstanding – diluted	7,798			7,668

EPS:
Basic	$	(0.01	)	$	0.24
Diluted	$	(0.01	)	$	0.24

The following table summarizes the securities that were antidilutive or out-of-the-money, and therefore, were not included in the computations of diluted loss per common share:



	Three months ended March 31,
	2020	2019
Out-of-the money warrants (see Note 8)	4,576,799	4,576,799
Restricted stock units (RSUs) (See Note 17)⁽¹⁾	70,120	21,628
Stock-based compensation (See Note 17)	—	—
Out-of-the money UPOs (See Note 8)	—	27,360
Total	4,646,919	4,625,787

⁽¹⁾ For the three months ended March 31, 2020 and 2019, all PRSUs and MRSUs (both as defined below) were not included in the computation of diluted loss per share because the performance and market conditions were not satisfied during the periods and would not be satisfied if the reporting date was at the end of the contingency periods.