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BASIC AND DILUTED (LOSS) INCOME PER COMMON SHARE
 3 Months Ended
Mar. 31, 2024
(Loss) income per share:  
BASIC AND DILUTED (LOSS) INCOME PER COMMON SHARE

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

 

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

 

   2024   2023 (Restated) 
   Three Months Ended 
   March 31, 
   2024   2023 (As Restated) 
Numerator:        
Net (loss) income  $(1,035)  $742 
           
Denominator:          
Weighted average basic shares outstanding   10,112,310    9,769,545 
Effect of dilutive securities - equity based compensation plans   -    20 
Weighted average diluted shares outstanding   10,112,310    9,769,565 
           
Net (loss) income per common share:          
Basic  $(0.10)  $0.07 
Diluted  $(0.10)  $0.07 

 

As of March 31, 2024, and 2023, diluted (loss) income per share excludes potentially dilutive common shares related to 649,167 and 585,667 shares underlying stock options, respectively, and 125,000 and 250,000 shares underlying nonvested RSUs, respectively, as their effect was anti-dilutive.