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BASIC AND DILUTED LOSS PER COMMON SHARE
 12 Months Ended
Dec. 31, 2023
Earnings Per Share [Abstract]  
BASIC AND DILUTED LOSS PER COMMON SHARE

15. BASIC AND DILUTED LOSS PER COMMON SHARE

 

Basic and diluted 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 loss per share (in thousands, except per share data):

 

   2023   2022 
   Year Ended 
   December 31, 
   2023   2022
(Restated)		 
Numerator:        
Net loss  $(1,898)  $(5,419)
           
Denominator:          
Weighted average basic shares outstanding   9,905,234    9,727,542 
Effect of dilutive securities - equity based compensation plans   -    - 
Weighted average diluted shares outstanding   9,905,234    9,727,542 
           
Net loss per common share:          
Basic  $(0.19 )  $(0.56)
Diluted  $(0.19 )  $(0.56)

 

As of December 31, 2023 and 2022, basic and diluted loss per share excludes potentially dilutive common shares related to 332,500 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.