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BASIC AND DILUTED LOSS PER COMMON SHARE
 12 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
BASIC AND DILUTED LOSS PER COMMON SHARE

14. BASIC AND DILUTED LOSS PER COMMON SHARE

 

Basic and diluted loss per common share is calculated based on the weighted average number of shares outstanding during the period. The Company’s employee and director equity awards, as well as incremental shares issuable upon exercise of warrants, are not considered in the calculations if the effect would be anti-dilutive. The following table sets forth the computation of basic and diluted loss per share (in thousands, except per share data):

 

   2022   2021 
   Year Ended 
   December 31, 
   2022   2021 
Numerator:        
Net loss  $(3,638)  $(2,167)
           
Denominator:          
Weighted average basic shares outstanding   9,727,542    8,857,942 
Effect of dilutive securities - equity based compensation plans   -    - 
Denominator for diluted net loss per common share   9,727,542    8,857,942 
           
Net loss per common share:          
Basic  $(0.37)  $(0.24)
Diluted  $(0.37)  $(0.24)

 

As of December 31, 2022 and 2021, diluted loss per share excludes potentially dilutive common shares related to (i) 670,667 and 647,667 shares underlying stock options, respectively, and (ii) 250,000 and 0 shares underlying nonvested RSUs, respectively, as their effect was anti-dilutive.