EARNINGS (LOSS) PER COMMON SHARE

6 Months Ended

Jun. 30, 2025

Basic earnings (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period.

Diluted earnings (loss) per common share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the period, adjusted for the potential dilutive effect of stock options, unvested restricted stock units, and other convertible securities. The calculation includes the effect of dilutive securities only when their inclusion would not be anti-dilutive. For share-based awards, the Company uses the treasury stock method, which assumes proceeds from the assumed exercise or vesting are used to repurchase shares at the average market price during the period.


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Net income (loss)	$	1,205,068	$	(2,194,828)	$	1,062,268	$	(5,460,678)

Weighted average shares outstanding - basic	16,947,527		16,437,460		16,980,960		16,470,467
Basic income (loss) per common share	$	0.07	$	(0.13)	$	0.06	$	(0.33)

Weighted average shares outstanding - basic	16,947,527		16,437,460		16,980,960		16,470,467
Plus:
“In-the-money” stock options	313		—		313		—
“In-the-money” restricted stock units	869,616		—		846,355		—
Less:
Shares assumed repurchased under treasury stock method	(78)		—		(76)		—
Weighted average shares outstanding - diluted	17,817,378		16,437,460		17,827,552		16,470,467
Diluted income (loss) per common share	$	0.07	$	(0.13)	$	0.06	$	(0.33)

The Company excluded the following weighted average items from the above computation of diluted loss per common share, as their effect would be anti-dilutive:


	Three Months Ended June 30,		Six Months Ended June 30,
	2025	2024	2025	2024
Stock options	23,674	342,779	23,987	342,779
Restricted stock units	429,100	1,446,169	429,100	1,401,721

Total excluded shares	452,774	1,788,948	453,087	1,744,500