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Note 10 - Earnings (Loss) Per Share
 6 Months Ended
Jun. 30, 2020
Notes to Financial Statements  
Earnings Per Share [Text Block]
Note
10.
      Earnings (loss) per share
 
The Company is required to present basic earnings (loss) per share and diluted earnings (loss) per share in its Consolidated Statements of Operations. Basic earnings (loss) per share amounts are computed by dividing net (loss) income by the weighted average number of common shares outstanding. Diluted earnings (loss) per share reflects additional common shares that would have been outstanding if potentially dilutive common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Potential common shares that
may
be issued by the Company relate to outstanding unvested RSAs granted to directors and employees. The dilutive effect resulting from these potential shares is determined using the treasury stock method. The Company is also required to provide a reconciliation of the numerator and denominator used in the computation of both basic and diluted earnings per share.
 
The following table summarizes the computation of basic and diluted earnings (loss) per share for the
three
and
six
months ended
June 30, 2020
and
2019:
 
(Net loss in thousands)
  
Three Months Ended June 30,
   
Six Months Ended June 30,
 
   
2020
    
2019
    
2020
    
2019
  
Basis loss per share:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Net loss attributable to Common shareholders
   $
(1,278
)
   $
(1,655
)
   $
(2,350
)
   $
(1,332
)
Divided by:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Weighted average shares outstanding
    
3,935,109
 
    
3,921,878
 
    
3,933,249
 
    
3,919,608
 
                                 
Basic loss per common share
   $
(0.32
)
   $
(0.42
)
   $
(0.60
)
   $
(0.34
)
                                 
Diluted loss per share:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Net loss attributable to Common shareholders
   $
(1,278
)
   $
(1,655
)
   $
(2,350
)
   $
(1,332
)
                                 
Weighted average shares outstanding
    
3,935,109
 
    
3,921,878
 
    
3,933,249
 
    
3,919,608
 
                                 
Effect of potentially dilutive restricted common shares
    
-
  
(1)
    
-
  
(2)
    
-
  
(3)
    
-
  
(4)
                                 
Divided by:
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Weighted average diluted shares outstanding
    
3,935,109
 
    
3,921,878
 
    
3,933,249
 
    
3,919,608
 
                                 
Diluted loss per common share
   $
(0.32
)
   $
(0.42
)
   $
(0.60
)
   $
(0.34
)
 
 
(
1
)
The weighted average diluted shares outstanding does
not
include
15,857
anti-dilutive restricted common shares for the
three
months ended
June 30, 2020.
 
(
2
)
The weighted average diluted shares outstanding does
not
include
5,572
anti-dilutive restricted common shares for the
three
months ended
June 30, 2019.
 
(
3
)
The weighted average diluted shares outstanding does
not
include
4,165
anti-dilutive restricted common shares for the
six
months ended
June 30, 2020.
 
(
4
)
The weighted average diluted shares outstanding does
not
include
3,005
anti-dilutive restricted common shares for the
six
months ended
June 30, 2019.