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Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2021

Reconciliation of Numerators and Denominators used in Computing Basic and Diluted Net Income Per Share

The following is a reconciliation of the numerators and denominators used in computing basic and diluted net income per share:

		Three Months Ended
		March 31, 2021				March 31, 2020
Net income (loss)		$	(3,720,218	)		$	(2,897,976	)
Numerator, basic and diluted net income (loss) available to stockholders		$	(3,720,218	)		$	(2,897,976	)
Denominator:
Shares used in computation – basic:
Weighted average common shares outstanding			12,610,924				9,517,664
Common shares outstanding for basic			12,610,924				9,517,664
Shares used in computation – diluted:
Common shares outstanding for basic			12,610,924				9,517,664
Shares used in computing diluted net income per share			12,610,924				9,517,664
Net (loss) per share – basic		$	(0.29	)		$	(0.30	)
Net (loss) per share – diluted		$	(0.29	)		$	(0.30	)

In the Money Potential Common Shares [Member]

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The potential common shares in the following tables represent potential common shares calculated using the if-converted method from outstanding options, stock awards and warrants that were excluded from the calculation of diluted EPS:

		Three Months Ended
		March 31, 2021				March 31, 2020
Average market price during the period		$	7.30			$	3.81
In the money potential common shares from options excluded			22,493				22,493
In the money potential common shares from warrants excluded			3,481,314				120,000

Out of Money Potential Common Shares [Member]

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

Potential common shares from out of the money options and warrants were also excluded from the computation of diluted EPS because calculation of the associated potential common shares has an anti-dilutive effect on EPS. The following table lists options and warrants that were excluded from diluted EPS:

		Three Months Ended
Per share exercise price		March 31, 2020				March 31, 2020
Out of the money options excluded:
$12.48			136,833				136,833
$12.84			4,167				4,167
$26.40			75,158				75,158
Out-of-the-money warrants excluded:
$3.99			—				426,065
$5.76			—				196,135
$7.16			—				700,000
Total excluded			216,158				1,538,358

Unvested Restricted Stock Awards Excluded from EPS [Member]

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The common shares relating to our unvested restricted stock awards that were excluded from potential common shares in the earning per share calculation due to having an anti-dilutive effect are:

		Three Months Ended
		March 31, 2021				March 31, 2020
Potential common shares from unvested restricted stock awards excluded from EPS			447,164				343,353

X

- Definition

Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

+ References

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