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Note 10 - Earnings (Loss) Per Share
 9 Months Ended
Sep. 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 (loss) per share.
 
The following table summarizes the computation of basic and diluted earnings (loss) per share for the
three
and
nine
months ended
September 30, 2020
and
2019:
 
(Net income (loss) in thousands)
  
Three Months Ended September 30,
     
Nine Months Ended September 30,
 
   
2020
      
2019
      
2020
      
2019
  
Basis (loss) earnings per share:
  
 
 
 
    
 
 
 
    
 
 
 
    
 
 
 
Net (loss) income attributable to Common shareholders
   $
(87
)
     $
27
 
     $
(2,437
)
     $
(1,305
)
Divided by:
  
 
 
 
    
 
 
 
    
 
 
 
    
 
 
 
Weighted average shares outstanding
    
3,935,898
 
      
3,922,783
 
      
3,934,138
 
      
3,920,678
 
                                       
Basic (loss) earnings per common share
   $
(0.02
)
     $
0.01
 
     $
(0.62
)
     $
(0.33
)
                                       
Diluted (loss) earnings per share:
  
 
 
 
    
 
 
 
    
 
 
 
    
 
 
 
Net (loss) income attributable to Common shareholders
   $
(87
)
     $
27
 
     $
(2,437
)
     $
(1,305
)
                                       
Weighted average shares outstanding
    
3,935,898
 
      
3,922,783
 
      
3,934,138
 
      
3,920,678
 
                                       
Effect of potentially dilutive restricted common shares
    
-
(1)
      
-
(2)
      
-
(3)
      
-
(4)
                                       
Divided by:
  
 
 
 
    
 
 
 
    
 
 
 
    
 
 
 
Weighted average diluted shares outstanding
    
3,935,898
 
      
3,922,783
 
      
3,934,138
 
      
3,920,678
 
                                       
Diluted (loss) earnings per common share
   $
(0.02
)
     $
0.01
 
     $
(0.62
)
     $
(0.33
)
 
 
(
1
)
The weighted average diluted shares outstanding does
not
include
13,093
anti-dilutive restricted common shares for the
three
months ended
September 30, 2020.
 
(
2
)
The weighted average diluted shares outstanding does
not
include
417
anti-dilutive restricted common shares for the
three
months ended
September 30, 2019.
 
(
3
)
The weighted average diluted shares outstanding does
not
include
1,630
anti-dilutive restricted common shares for the
nine
months ended
September 30, 2020.
 
(
4
)
The weighted average diluted shares outstanding does
not
include
151
anti-dilutive restricted common shares for the
nine
months ended
September 30, 2019.