v3.24.1
NET GAIN (LOSS) PER COMMON SHARE
 12 Months Ended
Dec. 31, 2023
NET GAIN (LOSS) PER COMMON SHARE  
NET GAIN (LOSS) PER COMMON SHARE

NOTE 3 — NET GAIN (LOSS) PER COMMON SHARE

 

Basic net gain (loss) per common share is computed by dividing net increase (decrease) in net assets resulting from operations by the weighted-average number of common shares outstanding during the period. A reconciliation of the numerator and denominator used in the calculation of basic and diluted net gain per common share follows:

 

 

 

For the Year Ended December 31,

 

 

 

2023

 

 

2022

 

Numerator:  Net increase (decrease) in net assets resulting from operations

 

$(1,165,506)

 

$106,958

 

Denominator:  Weighted-average number of common shares outstanding

 

 

6,249,913

 

 

 

5,333,028

 

Basic and diluted net gain (loss) per common share

 

$(0.18)

 

$0.02

 

 

At December 31, 2023 and 2022, the Company did not have any options or warrants outstanding or any other dilutive common equivalent shares other than conditional option grants (for an aggregate of 870,000 shares of common stock) that were, at December 31, 2022, unexercisable and subject to voiding in the absence of shareholder approval of the related 2022 Stock Incentive Plan.  The Company’s shareholders subsequently approved the plan on January 20, 2023 at a special meeting of shareholders called for that purpose. At December 31, 2023, options issued under the plan for the purchase of 670,000 common shares remained outstanding. For the year ended December 31, 2023, the common shares underlying the stock options have been excluded from the calculation because their effect would be anti-dilutive. Therefore, the weighted-average shares outstanding used to calculate both basic and diluted loss per common share are the same.