Earnings (Loss) Per Share

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Earnings (Loss) Per Share

Note 16 – Earnings (Loss) Per Share

Basic earnings (loss) per share (“EPS”) excludes dilution and is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or otherwise result in the issuance of common stock that shared in the earnings of the entity. Diluted EPS also utilizes the treasury stock method which prescribes a theoretical buy back of shares from the theoretical proceeds of all options outstanding during the period, and the if-converted method for convertible debt.

The following is a reconciliation of the weighted average number of common shares outstanding used in calculating basic and diluted net loss per share (in thousands):

	For the years ended
	December 31, 2021		December 31, 2020
Net income (loss) - basic	$	6,273	$	(2,125	)
Interest on unsecured convertible promissory note		1,000		-
Net income (loss) - diluted	$	7,273	$	(2,125	)
Weighted average shares outstanding - basic		15,172		11,595
Diluted shares- Stock Options		2,001		-
Diluted shares- Stock Warrants		220		-
Unsecured convertible promissory note		1,000		-
Weighted average shares outstanding - diluted		18,393		11,595

The following table represents the number of securities excluded from the income per share computation as a result of their anti-dilutive effect (in thousands):

	For the years ended
Anti-dilutive securities	December 31, 2021		December 31, 2020
Common stock purchase warrants		455		450
Stock Options		828		3,795
Unsecured convertible promissory note		-		1,000
Anti-dilutive securities		1,283		5,245