Earnings (Loss) Per Share

9 Months Ended

Sep. 30, 2020

The following table reconciles the numerator and denominator used to calculate diluted earnings (loss) per share for the three and nine months ended September 30, 2020 and 2019:


	Three months ended September 30,
	2020		2019
Numerator:
Net income (loss) from continuing operations	$	(1,275,620)	$	(3,316,286)
Discontinued operations	777,916		1,349,351
Net (income) loss at subsidiary attributable to noncontrolling interest	15,967		13,267
Net income (loss) attributable to common shareholders	$	(481,737)	$	(1,953,668)
Denominator:
Weighted-average shares outstanding – basic	15,134,583		15,368,027
Dilutive effect of other securities	—		—
Weighted-average shares outstanding – diluted	15,134,583		15,368,027


	Nine months ended September 30,
	2020		2019
Numerator:
Net income (loss) from continuing operations	$	(4,838,250)	$	(5,842,361)
Discontinued operations	2,334,811		3,268,196
Net income (loss) at subsidiary attributable to noncontrolling interest	47,806		(2,888)
Net income (loss) attributable to common shareholders	$	(2,455,633)	$	(2,577,053)
Denominator:
Weighted-average shares outstanding – basic	15,206,179		15,454,159
Dilutive effect of other securities	—		—
Weighted-average shares outstanding – diluted	15,206,179		15,454,159

As of September 30, 2020 and 2019, restricted stock awards and options to purchase 197,210 and 3,600 shares of common stock, respectively, were outstanding but were not included in the computation of diluted earnings per share because the effect would be antidilutive.