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Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

EARNINGS (LOSS) PER SHARE

NOTE 7 – EARNINGS (LOSS) PER SHARE

Basic earnings per share (“EPS”) is computed by dividing net income (loss) by the weighted average number of common shares during the period.

The number of shares related to options, restricted stock and other similar instruments included in diluted EPS is based on the “Treasury Stock Method” prescribed in ASC 260-10, Earnings per Share. This method assumes the theoretical repurchase of shares using proceeds of the respective stock option exercised, and for restricted stock, the amount of compensation cost attributed to future services which have not yet been recognized, and the amount of current and deferred tax benefit, if any, that would be credited to additional paid in capital upon the vesting of the restricted stock, at a price equal to the issuer’s average stock price during the related earnings period. Accordingly, the number of shares includable in the calculation of EPS in respect of the stock options, restricted stock and similar instruments is dependent on this average stock price and will increase as the average stock price increases.

The following table sets forth the computation of basic and diluted earnings (loss) per share.

		Three Months Ended June 30,								Six Months Ended June 30,
		2021				2020				2021				2020
Numerator
Net income (loss)		$	352,100			$	(1,077,468	)		$	(285,277	)		$	(3,281,399	)

Denominator
Weighted average shares outstanding used in computing earnings per share
Basic			17,347,096				14,667,216				16,720,114				14,638,359
Effect of dilutive stock options, warrants, and unvested restricted stock awards			757,711				-				-				-
Diluted			18,104,807				14,667,216				16,720,114				14,638,359

Earnings (loss) per share
Basic		$	0.02			$	(0.07	)		$	(0.02	)		$	(0.22	)
Diluted		$	0.02			$	(0.07	)		$	(0.02	)		$	(0.22	)

No calculation of diluted earnings per share is included for either 2020 period or for the six months ended June 30, 2021, as the effect of the calculation would be antidilutive.

The number of common shares potentially issuable upon the exercise of certain options or for unvested restricted stock awards are reflected in the table below.

		Three Months Ended June 30,								Six Months Ended June 30,
		2021				2020				2021				2020

Weighted average number of shares excluded from calculation
Unvested restricted stock awards			98,011				79,264				94,942				48,027
Options			659,700				826,777				652,103				782,575
Total			757,711				906,041				747,045				830,602