Net Income (Loss) Per Share

6 Months Ended

Jun. 30, 2019

Net Income (Loss) Per Share

Net Income (Loss) Per Share

2. Net Income (Loss) Per Share

The calculation of net loss per share follows:

	Three Months  Ended  June 30, 2019		Three Months Ended June 30, 2018			Six Months Ended June 30, 2019		Six Months Ended June 30, 2018
Basic:
Net income (loss) available to common shareholders	$	1,587,448	$	(152,046	)	$	1,359,941	$	(350,072	)
Average common shares outstanding-basic		826,921		826,921			826,921		826,921
Net income (loss) per share-basic	$	1.92	$	(0.18	)	$	1.64	$	(0.42	)
Diluted:
Average common shares-diluted		826,921		826,921			826,921		826,921
Net income (loss) per share-diluted	$	1.92	$	(0.18	)	$	1.64	$	(0.42	)

The preferred stock is non-cumulative and the Company is restricted from paying dividends.  Therefore, no effect of the preferred stock is included in the loss per share calculations.