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Note 9 - Per Share Data

3 Months Ended

Mar. 31, 2022

Notes to Financial Statements

Earnings Per Share [Text Block]

9. Per Share Data

The Company computes, presents and discloses earnings per share in accordance with the authoritative guidance, which specifies the computation, presentation and disclosure requirements for earnings per share of entities with publicly held common stock or potential common stock. The objective of basic EPS is to measure the performance of an entity over the reporting period by dividing income (loss) by the weighted average shares outstanding. The objective of diluted EPS is consistent with that of basic EPS, except that it also gives effect to all potentially dilutive common shares outstanding during the period.

The following is a reconciliation of the basic and diluted loss per share computation: 

		Three Months Ended March 31,
		2022				2021
Net loss for basic earnings per share		$	(361,049	)		$	(812,105	)
Less: Gain from change in fair value of warrants			351,104				918,801
Net loss, adjusted for change in fair value of warrants for diluted earnings per share		$	(712,153	)		$	(1,730,906	)
Weighted-average shares			73,070,565				76,757,010
Effect of potential common shares			812,493				815,577
Weighted-average shares: diluted			73,883,058				77,572,587
Loss per share: basic		$	(0.00	)		$	(0.01	)
Loss per share: diluted		$	(0.01	)		$	(0.02	)

For the three months ended March 31, 2022 and 2021, the Company incurred losses and as a result, the equity instruments listed below were excluded from the calculation of diluted loss per share as the effect of the exercise, conversion or vesting of such instruments would have been anti-dilutive. The weighted average number of equity instruments excluded consists of:

		Three Months Ended March 31,
		2022				2021
Warrants			—				—
Stock options			150,000				186,191
Restricted stock units (1)			325,903				163,946

⁽¹⁾ For the three months ended March 31, 2022, this includes 54,792 units which are expected to settle in cash.

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI https://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257

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