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BASIC AND DILUTED AVERAGE SHARES | 6 Months Ended
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Jun. 30, 2023
BASIC AND DILUTED AVERAGE SHARES |
BASIC AND DILUTED AVERAGE SHARES | NOTE 12 — BASIC AND DILUTED AVERAGE SHARES A reconciliation of basic and diluted weighted average common shares for the three months ended June 30, 2023 and 2022 is as follows:
|  | For the Three Months Ended |
|  | June 30, |
|  | 2023 |  |  | 2022 |
Basic weighted average shares |  |  | 26,916,648 |  |  |  | 26,924,631 |
Effect of potential dilutive securities |  |  | 15,000 |  |  |  | 15,000 |
Diluted weighted average shares |  |  | 26,931,648 |  |  |  | 26,939,631 |
For the three months ended June 30, 2023 and 2022, there was a total of 15,000 common stock options, warrants, and Restricted Stock Units (RSUs) unexercised. For the three months ended June 30, 2023 and 2022, there were no anti-dilutive shares. A reconciliation of basic and diluted weighted average common shares for the six months ended June 30, 2023 and 2022 is as follows:
|  | For the Six Months Ended |
|  | June 30, |
|  | 2023 |  |  | 2022 |
Basic weighted average shares |  |  | 26,920,618 |  |  |  | 26,924,631 |
Effect of potential dilutive securities |  |  | 15,000 |  |  |  | 15,000 |
Diluted weighted average shares |  |  | 26,935,618 |  |  |  | 26,939,631 |
For the six months ended June 30, 2023 and 2022, there was a total of 15,000 common stock options, warrants, and Restricted Stock Units (RSUs) unexercised. For the six months ended June 30, 2023 and 2022, there were no anti-dilutive shares. On March 14, 2023, a stock repurchase program was unanimously approved by the Company’s Board of Directors (the “Board”), that gave management authorization to purchase up to one million (1,000,000) shares of the Company’s stock, of a per-share price not to exceed $9, on the open market. The plan expires on March 31, 2026. The following lists the repurchase of Company shares for the three and six months ended June 30, 2023:
|  |  |  |  |  |  |  |  |  |  | Shares available |
|  | Total Number of |  |  | Average Price |  |  |  |  |  | to purchase under |
Fiscal Period |  | Shares Purchased |  |  | Paid per Share |  |  | Total $ Purchase |  |  | the plan |
April 1 - 30, 2023 |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,000,000 |
May 1 - 31, 2023 |  |  | 17,029 |  |  | $ | 6.73 |  |  | $ | 114,621 |  |  |  | 982,971 |
June 1 - 30, 2023 |  |  | 10,392 |  |  | $ | 7.72 |  |  | $ | 80,199 |  |  |  | 972,579 |
Total |  |  | 27,421 |  |  | $ | 7.10 |  |  | $ | 194,820 |  |  |  | 972,579 |

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