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BASIC AND DILUTED AVERAGE SHARES | 9 Months Ended
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Sep. 30, 2025
BASIC AND DILUTED AVERAGE SHARES |
BASIC AND DILUTED AVERAGE SHARES | NOTE 12 — BASIC AND DILUTED AVERAGE SHARES The following table is a reconciliation of the Company’s basic and diluted weighted average common shares for the three months ended September 30, 2025 and 2024: ​
​ | ​ | ​ | ​ | ​
​ |  | Three Months Ended
​ | ​ | September 30,
​ | ​ | 2025 | ​ | 2024
​ | ​ | ​ | ​ | ​
Basic weighted average shares |  | 25,966,802 |  | 26,061,748
Effect of potential dilutive securities |  | — |  | 15,000
​ | ​ | ​ | ​ | ​
Diluted weighted average shares |  | 25,966,802 |  | 26,076,748
​ The following table is a reconciliation of the Company’s basic and diluted weighted average common shares for the nine months ended September 30, 2025 and 2024: ​
​ | ​ | ​ | ​ | ​
​ |  | Nine Months Ended
​ | ​ | September 30,
​ | ​ | 2025 | ​ | 2024
​ | ​ | ​ | ​ | ​
Basic weighted average shares |  | 25,984,703 |  | 26,242,452
Effect of potential dilutive securities |  | — |  | 15,000
​ | ​ | ​ | ​ | ​
Diluted weighted average shares |  | 25,984,703 |  | 26,257,452
​ For three and nine months ended September 30, 2025 and 2024, there were 0 and 15 thousand Common Stock options unexercised, respectively. For the three and nine months ended September 30, 2025 and 2024, 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”), which gave management authorization to purchase up to 1.0 million shares of the Company’s stock, at a per-share price not to exceed $9.00, on the open market. The plan expires on March 31, 2026. On March 27, 2025, the Board unanimously approved the repurchase of an additional 100 thousand shares of the Common Stock, bringing the total authorization under the existing repurchase program to 1.1 million shares. The following table lists the repurchase of Company shares for the three and nine months ended September 30, 2025: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Total Number of |  | Average Price |  | Total Price |  | Shares Available
Fiscal Period | ​ | Shares Purchased | ​ | Paid per Share | ​ | Paid | ​ | to Purchase
Balance as of January 1, 2025 |  | 928,930 | ​ | $ | 4.92 | ​ | $ | 4,568,823 |  | 71,070
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
January 1 - 31, 2025 |  | — | ​ |  | — | ​ |  | — |  | 71,070
February 1 - 28, 2025 |  | — | ​ |  | — | ​ |  | — |  | 71,070
March 1 - 31, 2025 |  | 500 | ​ |  | 5.25 | ​ |  | 2,626 |  | 170,570
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance as of March 31, 2025 |  | 929,430 | ​ | $ | 4.92 | ​ | $ | 4,571,449 |  | 170,570
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
April 1 - 30, 2025 |  | — | ​ |  | — | ​ |  | — |  | 170,570
May 1 - 31, 2025 |  | — | ​ |  | — | ​ |  | — |  | 170,570
June 1 - 30, 2025 |  | 20,163 | ​ |  | 5.89 | ​ |  | 118,700 |  | 150,407
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance as of June 30, 2025 |  | 949,593 | ​ | $ | 4.94 | ​ | $ | 4,690,149 |  | 150,407
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
July 1 - 31, 2025 |  | 8,134 | ​ |  | 5.93 | ​ |  | 48,218 |  | 142,273
August 1 - 31, 2025 |  | 3,428 | ​ |  | 5.65 | ​ |  | 19,364 |  | 138,845
September 1 - 30, 2025 |  | — | ​ |  | — | ​ |  | — |  | 138,845
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance as of September 30, 2025 |  | 961,155 | ​ | $ | 4.95 | ​ | $ | 4,757,731 |  | 138,845
​ For the three months ended September 30, 2025, the Company repurchased 11,562 shares for $67,582, for an average price of $5.85. For the nine months ended September 30, 2025, the Company repurchased 32,225 shares for $188,908, for an average price of $5.86. The following table lists the repurchase of Company shares for the three and nine months ended September 30, 2024:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Total Number of |  | Average Price |  | Total Price |  | Shares Available
Fiscal Period | ​ | Shares Purchased | ​ | Paid per Share | ​ | Paid | ​ | to Purchase
Balance as of January 1, 2024 |  | 415,973 | ​ | $ | 5.18 | ​ | $ | 2,155,049 |  | 584,027
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
January 1 - 31, 2024 |  | 59,417 | ​ |  | 4.52 | ​ |  | 268,569 |  | 524,610
February 1 - 29, 2024 |  | 56,343 | ​ |  | 4.53 | ​ |  | 255,195 |  | 468,267
March 1 - 31, 2024 |  | 85,580 | ​ |  | 4.46 | ​ |  | 381,382 |  | 382,687
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance as of March 31, 2024 |  | 617,313 | ​ | $ | 4.96 | ​ | $ | 3,060,195 |  | 382,687
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
April 1 - 30, 2024 |  | 30,891 | ​ |  | 4.66 | ​ |  | 143,840 |  | 351,796
May 1 - 31, 2024 |  | 37,672 | ​ |  | 4.65 | ​ |  | 175,257 |  | 314,124
June 1 - 30, 2024 |  | 83,526 | ​ |  | 4.74 | ​ |  | 396,242 |  | 230,598
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance as of June 30, 2024 |  | 769,402 | ​ | $ | 4.91 | ​ | $ | 3,775,534 |  | 230,598
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
July 1 - 31, 2024 |  | 75,326 | ​ |  | 4.87 | ​ |  | 367,144 |  | 155,272
August 1 - 31, 2024 |  | 51,353 | ​ |  | 4.98 | ​ |  | 255,633 |  | 103,919
September 1 - 30, 2024 |  | 20,516 | ​ |  | 5.15 | ​ |  | 105,733 |  | 83,403
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance as of September 30, 2024 |  | 916,597 | ​ | $ | 4.91 | ​ | $ | 4,504,044 |  | 83,403
​ For the three months ended September 30, 2024, the Company repurchased 147,195 shares for $728,510, for an average price of $4.95. For the nine months ended September 30, 2024, the Company repurchased 500,624 shares for $2,348,995, for an average price of $4.69.

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