Earnings (Loss) per Share

3 Months Ended

Mar. 31, 2024

Earnings (Loss) per Share

Earnings (loss) Per Share

Note 6 –  The following table sets forth the calculation of basic and diluted earnings per share for the three-month period ended March 31, 2024.  The comparability of the three months ended March 31, 2024 and the three months ended March 31, 2023 is reduced because net income of $868,270 for the three months ended March 31, 2023 included $1.46 million of expenses reimbursed by the ERTC refund which related to periods before the three months ended March 31, 2023.  Without that refund being recorded in the first quarter of 2023, the Company would have had a net loss of approximately $592,000, or $(.03) per share.  The ERTC refund reflected excess costs and lost revenue incurred by the Company as a result of government restrictions in an attempt to prevent the spread of a novel strain of Coronavirus (“COVID”).

	Three Months Ended March 31, 2024
	Loss (Numerator)			Shares (Denominator)		Per-Share Amount
Net loss	$	(86,477	)		22,215,512	$	(0.00	)
Effect of dilutive securities
Stock and warrant dilution					142,943
Convertible notes		14,375			1,150,000	-
Diluted earnings per share
Net loss (1)	$	(72,102	)		22,215,512	$	(0.00	)

(1) Net loss per share is shown same as basic loss per share because the underlying dilutive securities have anti-dilutive effect.

The following table sets forth the calculation of basic and diluted earnings per share for the three-month period ended March 31, 2023:

	Three Months Ended March 31, 2023
	Income (Numerator)		Shares (Denominator)		Per-Share Amount
Net income	$	868,270		22,215,512	$	0.04
Effect of dilutive securities
Stock option and warrant dilution				162,500
Convertible notes		15,625		1,250,000	-
Diluted earnings per share
Net income	$	883,895		23,628,012	$	0.04