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Note 14 - Loss Per Share

6 Months Ended

Jun. 30, 2025

NOTE 14 LOSS PER SHARE

The following table sets forth the reconciliation of numerators and denominators for the basic and diluted loss per share computation for the three and six months ended June 30, 2025 and June 30, 2024:

(in thousands, except per share data)	Three months ended June 30,						Six months ended June 30,
	2025			2024			2025			2024
Numerator:
Loss from continuing operations	$	(3,165	)	$	(2,353	)	$	(6,257	)	$	(4,468	)
Less: net income from continuing operations attributable to noncontrolling interests		(152	)		(177	)		(277	)		(334	)
Less: dividends on preferred stock		(311	)		—			(533	)		—
Numerator used in calculating basic loss per share from continuing operations attributable to common shareholders	$	(3,628	)	$	(2,530	)	$	(7,067	)	$	(4,802	)
Numerator used in calculating diluted loss per share from continuing operations attributable to common shareholders	$	(3,628	)	$	(2,530	)	$	(7,067	)	$	(4,802	)
Income (loss) from discontinued operations		—			167			—			(46	)
Numerator used in calculating diluted loss per share - net loss attributable to common shareholders	$	(3,628	)	$	(2,363	)	$	(7,067	)	$	(4,848	)

Denominator:
Weighted-average basic shares
Weighted-average common shares outstanding		27,196			27,309			27,150			27,223
Weighted-average diluted shares
Weighted-average common shares outstanding		27,196			27,309			27,150			27,223
Effect of potentially dilutive securities (a)
Stock options		—			—			—			—
Unvested restricted stock awards		—			—			—			—
Convertible preferred stock		—			—			—			—
Total weighted-average diluted shares		27,196			27,309			27,150			27,223
Basic (loss) earnings attributable to common shareholders:
Continuing operations	$	(0.13	)	$	(0.09	)	$	(0.26	)	$	(0.18	)
Discontinued operations	$	—		$	0.01		$	—		$	—
Basic loss per share - net loss attributable to common shareholders:	$	(0.13	)	$	(0.08	)	$	(0.26	)	$	(0.18	)
Diluted (loss) earnings attributable to common shareholders:
Continuing operations	$	(0.13	)	$	(0.09	)	$	(0.26	)	$	(0.18	)
Discontinued operations	$	—		$	0.01		$	—		$	—
Diluted loss per share - net loss attributable to common shareholders	$	(0.13	)	$	(0.08	)	$	(0.26	)	$	(0.18	)

(a)

Potentially dilutive securities consist of stock options and unvested restricted stock awards, calculated using the treasury stock method, and convertible preferred stock, using the if-converted method. Because the Company is reporting a loss from continuing operations attributable to common shareholders for the three and six months ended June 30, 2025 and June 30, 2024, all potentially dilutive securities outstanding were excluded from the calculation of diluted loss from continuing operations per share since their inclusion would have been anti-dilutive.

Basic loss per share excludes dilution and is computed by dividing loss attributable to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted loss per share is calculated using weighted-average diluted shares. Weighted-average diluted shares is calculated by adding the effect of potentially dilutive securities to weighted-average common shares outstanding. Potentially dilutive securities are excluded from the diluted loss per share computation in loss periods and when the applicable exercise price is greater than the market price on the period end date as their effect would be anti-dilutive.

The following weighted-average potentially dilutive securities are not included in the dilut ed loss per share calculations above because they would have had an antidilutive effect on the loss per share:

	Three months ended June 30,				Six months ended June 30,
	2025		2024		2025		2024
Stock options		265,000		265,000		265,000		265,000
Unvested restricted stock awards		443,302		548,964		443,302		548,964
Convertible preferred stock		1,710,526		—		1,710,526		—
Total		2,418,828		813,964		2,418,828		813,964