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Net Income Per Share (Tables)
6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Schedule of net income used in the calculation of basic and diluted net income per share

The net income used in the calculation of basic and diluted net income per share is as follows:

Three months ended June 30, 

Six months ended June 30, 

    

2024

    

2023

    

2024

    

2023

Net income

$

815,660

$

430,589

$

2,322,556

$

3,960,416

Schedule of weighted-average shares used in calculation of net income per share

In calculating the net income per share, basic and diluted, the following weighted-average shares were used:

Three months ended June 30, 

Six months ended June 30, 

    

2024

    

2023

    

2024

    

2023

Basic weighted-average number of shares outstanding

21,921,752

22,749,322

21,957,980

22,869,440

Dilutive stock options

2,027

5,394

Unvested time-based restricted shares

 

107,723

 

23,892

 

29,162

 

22,338

Unvested performance-based restricted shares

 

 

8,746

 

 

7,750

Diluted weighted-average shares outstanding

 

22,029,475

 

22,783,987

 

21,987,142

 

22,904,922

Schedule of anti-dilutive shares

The Company excluded the following shares from the diluted EPS because their inclusion would have been anti-dilutive.

Three months ended June 30, 

Six months ended June 30, 

    

2024

    

2023

    

2024

    

2023

Anti-dilutive options

67,973

64,606

Anti-dilutive unvested time-based restricted shares

492,463

274,318

512,389

275,872

Anti-dilutive unvested performance-based restricted shares

7,087

8,083

Total Anti-dilutive shares

 

492,463

 

349,378

 

512,389

 

348,561