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BASIC AND DILUTED INCOME (LOSS) PER COMMON SHARE
 9 Months Ended
Sep. 30, 2023
Earnings Per Share [Abstract]  
BASIC AND DILUTED INCOME (LOSS) PER COMMON SHARE

8. 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):

 

   2023   2022   2023   2022 
   Three Months Ended   Nine Months Ended 
   September 30,   September 30, 
   2023   2022   2023   2022 
Numerator:                
Net income (loss)  $1,024   $(1,311)  $827   $(4,586)
                     
Denominator:                    
Weighted average basic shares outstanding   10,010,226    9,769,545    9,896,850    9,713,335 
Effect of dilutive securities - equity based compensation plans   239,873    -    152,159    - 
Weighted average diluted shares outstanding   10,250,099    9,769,545    10,049,009    9,713,335 
                     
Net income (loss) per common share:                    
Basic  $0.10   $(0.13)  $0.08   $(0.47)
Diluted  $0.10   $(0.13)  $0.08   $(0.47)

 

As of September 30, 2023 and 2022, diluted income (loss) per share excludes potentially dilutive common shares related to 718,167 and 670,667 shares underlying stock options, respectively, and 125,000 and 250,000 shares underlying nonvested RSUs, respectively, as their effect was anti-dilutive.