Net (Loss) Income Per Share

9 Months Ended

Sep. 30, 2019

Net (Loss) Income Per Share

Net (Loss) Income Per Share

2. Net (Loss) Income Per Share

The calculation of net (loss) income per share follows:

	Three Months Ended September 30, 2019			Three Months Ended September 30, 2018			Nine Months Ended September 30, 2019		Nine Months Ended September 30, 2018
Basic:
Net (loss) income available to common shareholders	$	(224,072	)	$	(56,879	)	$	1,135,869	$	(406,951	)
Average common shares outstanding-basic		826,921			826,921			826,921		826,921
Net (loss) income per share-basic	$	(0.27	)	$	(0.07	)	$	1.37	$	(0.49	)
Diluted:
Average common shares-diluted		826,921			826,921			826,921		826,921
Net (loss) income per share-diluted	$	(0.27	)	$	(0.07	)	$	1.37	$	(0.49	)

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) income per share calculations.