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EARNINGS PER SHARE | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
EARNINGS PER SHARE | NOTE 16 — EARNINGS PER SHARE For the three and nine months ended September 30, 2024, the effect of potential shares of common stock from the unexercised options, unexercised warrants, and unvested Restricted Stock Units (“RSU”) are included in the computation of diluted net earnings per share. As a result, a total of 142,186 unvested RSU were included in the computation of weighted average number of common shares for the nine months ended September 30, 2024, and the computation of diluted loss per share does not assume the exercise of the Company’s outstanding unvested RSU impact due to loss position for the three months ended September 30, 2024. For the three and nine months ended September 30, 2023, the Company has no stock options, warrants or RSU issued and no impact on diluted earnings per share. The following table presents a reconciliation of basic and diluted net income per share: SCHEDULE OF EARNINGS PER SHARE
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Net (loss) income attributable to the Company |  | $ | (2,502,233 | ) |  | $ | 3,957,387 |  |  | $ | 3,495,079 |  |  | $ | 6,579,836 |
Weighted average number of common shares outstanding – basic |  |  | 41,325,388 |  |  |  | 40,000,000 |  |  |  | 40,863,370 |  |  |  | 40,000,000 |
Dilutive securities – unvested RSU |  |  | - |  |  |  | - |  |  |  | 142,186 |  |  |  | - |
Weighted average number of common shares outstanding – diluted |  |  | 41,325,388 |  |  |  | 40,000,000 |  |  |  | 41,005,556 |  |  |  | 40,000,000 |
(Loss) earnings per share – basic |  | $ | (0.06 | ) |  | $ | 0.10 |  |  | $ | 0.09 |  |  | $ | 0.16 |
(Loss) earnings per share – diluted |  | $ | (0.06 | ) |  | $ | 0.10 |  |  | $ | 0.09 |  |  | $ | 0.16 |
MASSIMO GROUP AND SUBSIDIARIES NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

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