Net Loss Per Common Share

3 Months Ended

Mar. 31, 2021

Note 2: Net loss per Common Share

The following table sets forth the computation of basic and diluted net income per common share:

	Three months ended
	March 31,
(dollars in thousands, except per share amounts)	2021			2020

Numerator:
Net loss	$	(4,529	)	$	(1,411	)

Denominator:
Weighted average number of shares of common stock outstanding		8,888,815			8,801,337
Weighted average effect of dilutive share-based compensation		-			-
Diluted weighted average number of shares of common stock outstanding		8,888,815			8,801,337

Net loss per common share:
Net loss per common share - Basic	$	(0.51	)	$	(0.16	)
Net loss per common share - Basic	$	(0.51	)	$	(0.16	)

We had options to purchase 757,775 and 741,550 shares of common stock outstanding at a weighted average price of $21.78 and $24.27 for the three months ended March 31, 2021 and 2020, respectively, which were excluded in the computation of diluted net loss per common share. These options were not included in the computation of diluted net loss per common share because their exercise prices were greater than the average market price of our common stock. In addition, the calculation of diluted net loss per share for the three months ended March 31, 2021 and 2020, respectively, excluded 30,553 and 19,650 shares for the assumed exercise of stock options as a result of being in a net loss position.