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BASIC AND DILUTED INCOME (LOSS) PER COMMON SHARE
 3 Months Ended
Mar. 31, 2023
Earnings Per Share [Abstract]  
BASIC AND DILUTED INCOME (LOSS) PER COMMON SHARE

11. BASIC AND DILUTED INCOME (LOSS) PER COMMON SHARE

 

Basic and diluted income (loss) per common share is calculated based on the weighted average number of vested 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 income (loss) per share (in thousands, except per share data):

SCHEDULE OF BASIC AND DILUTED INCOME (LOSS) PER COMMON SHARE

   2023   2022 
   Three Months Ended 
   March 31, 
   2023   2022 (Revised) 
Numerator:          
Net income (loss)  $122   $(740)
           
Denominator:          
Weighted average basic shares outstanding   9,769,545    9,640,545 
Effect of dilutive securities - equity based compensation plans   20    - 
Weighted average diluted shares outstanding   9,769,565    9,640,545 
           
Net income (loss) per common share:          
Basic  $0.01   $(0.08)
Diluted  $0.01   $(0.08)

 

As of March 31, 2023 and 2022, diluted income (loss) per share excludes potentially dilutive common shares related to 585,667 and 643,667 shares underlying stock options, respectively, and 250,000 and 0 shares underlying nonvested RSUs, respectively, as their effect was anti-dilutive.