Stockholders' Deficit and Loss Per Share

3 Months Ended

Mar. 31, 2024

Stockholders' Deficit and Loss Per Share [Line Items]

Equity [Text Block]

Note 10 – Stockholders’ Deficit and Loss Per Share

The following table presents the calculation of loss per share for the three months ended March 31, 2024 and 2023:

	Three months ended March 31
In thousands, except per share data	2024		2023
Numerator:
Net loss. as reported	$	(1,269)	$	(858)
Denominator:
Weighted average shares outstanding – basic and diluted		13,496		13,446
Basic and diluted loss per share – basic and diluted	$	(0.09)	$	(0.06)

Basic loss per common share is computed by dividing net loss attributable to common shares by the weighted average number of common shares outstanding for the period.  Diluted loss per common share is computed by dividing net loss attributable to common shares, by the weighted average number of common shares outstanding, adjusted for shares that would be assumed outstanding after warrants and stock options vested under the treasury stock method.

As of March 31, 2024, the Company excluded the effects of the outstanding stock options to purchase 280,000 shares in the calculation of diluted loss per share since their inclusion would have been anti-dilutive.  As of March 31, 2024 and 2023, the Company had other warrants to purchase 1.6 million shares of Common Stock outstanding, which were excluded from the calculation of diluted loss per share because their exercise price was greater than the average stock price for the period and their inclusion would have been anti-dilutive.

A summary of the status of the Company’s stock options as of March 31, 2024 and the changes during the three months then ended is presented below:

					Weighted average
	Number of	Weighted Average			remaining contractual
	Options	Exercise Price		life (in years)		Average intrinsic value
Outstanding at December 31, 2023	280,000	$	0.40		2.3	$	0.19
Granted	-		-
Expired	-		-
Outstanding at March 31, 2024	280,000	$	0.40		2.0	$	0.19
Exercisable at the end of the period	280,000	$	0.40		2.0	$	0.19

There was no equity based compensation for the three months ended March 31, 2024.  Equity based compensation was $38,000 for the three months ended March 31, 2023.  There is no more unrecognized equity based compensation cost related to unvested stock options as of March 31, 2024.