Net Loss Per Common Share

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Net Loss Per Common Share

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)	2022			2021
Numerator:
Net loss	$	(1,615	)	$	(4,529	)
Denominator:
Weighted average number of shares of common stock outstanding		8,946,174			8,888,815
Weighted average effect of dilutive share-based compensation		-			-
Diluted weighted average number of shares of common stock outstanding		8,946,174			8,888,815
Net loss per common share:
Net loss per common share - Basic	$	(0.18	)	$	(0.51	)
Net loss per common share - Basic	$	(0.18	)	$	(0.51	)

We had options to purchase 748,775 and 757,775 shares of common stock outstanding at a weighted average price of $19.01 and $21.78 for the three months ended March 31, 2022 and 2021, 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, 2022 and 2021, respectively, excluded 28,398 and 30,553 shares for the assumed exercise of stock options as a result of being in a net loss position.