XML 21 R11.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Earnings Per Share | 6 Months Ended
--- | ---
Jun. 30, 2024
Earnings Per Share |
Earnings Per Share | Note 4 – Earnings Per Share Basic earnings per share is computed by dividing net income (loss) applicable to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period, plus the dilutive effect of any dilutive securities. On March 1, 2024, the Board of Directors declared a 50% common stock dividend with a record date of March 11, 2024, that was paid on March 22, 2024. The effect of this stock dividend (which is accounted for as a stock split effected in the form of a stock dividend) has been applied retroactively to weighted average common shares outstanding, earnings per share, and the conversion rate and conversion price applicable for our Series A Convertible Preferred Stock, as if the 50% common stock dividend had occurred at the beginning of the earliest period presented. The following table sets forth the computation of basic and diluted earnings per share: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended
​ | ​ | June 30, | ​ | June 30,
​ |  | 2024 |  | 2023 |  | 2024 |  | 2023
​ | ​ | (in thousands, except per share data)
Net income (loss) |  | $ | (307) | ​ | $ | 381 | ​ | $ | (1,048) | ​ | $ | 190
Less: Preferred stock dividends | ​ | ​ | (100) | ​ | ​ | (100) | ​ | ​ | (200) | ​ | ​ | (200)
Net income (loss) applicable to common stockholders | ​ | ​ | (407) | ​ | ​ | 281 | ​ | ​ | (1,248) | ​ | ​ | (10)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted average common shares outstanding – basic | ​ | ​ | 9,860 | ​ | ​ | 9,900 | ​ | ​ | 9,860 | ​ | ​ | 9,915
Dilutive potential common shares from convertible preferred stock and restricted stock units | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Weighted average common shares outstanding – diluted | ​ | ​ | 9,860 | ​ | ​ | 9,900 | ​ | ​ | 9,860 | ​ | ​ | 9,915
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Earnings (loss) per common share, basic |  | $ | (0.04) | ​ | $ | 0.03 | ​ | $ | (0.13) | ​ | $ | 0.00
Earnings (loss) per common share, diluted | ​ | $ | (0.04) | ​ | $ | 0.03 | ​ | $ | (0.13) | ​ | $ | 0.00
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Shares issuable upon conversion of Series A Convertible Preferred Stock excluded from calculation because their effect would be anti-dilutive | ​ | ​ | 600 | ​ | ​ | 600 | ​ | ​ | 600 | ​ | ​ | 600
Shares subject to restricted stock units excluded from calculation because their effect would be anti-dilutive | ​ | ​ | 31 | ​ | ​ | — | ​ | ​ | 31 | ​ | ​ | —
​ 200,000 shares of Series A Convertible Preferred Stock convertible into 600,000 shares of common stock were outstanding but were not included in the computation of diluted earnings (loss) per share because their effect would be anti-dilutive due to the net losses and/or due to the $8.33 conversion price being higher than the average market price of the common stock. 31,250 restricted stock units (relating to the same number of shares of common stock) were outstanding for the periods in 2024 but were not included in the computation of diluted earnings (loss) per share for those periods because their effect would be anti-dilutive due to the net losses.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-3 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration