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Earnings (Loss) Per Share | 9 Months Ended
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Sep. 30, 2018
Earnings (loss) per share: |
Earnings (Loss) Per Share | 12. EARNINGS (LOSS) PER SHARE Basic earnings (loss) per share is computed by dividing net earnings (loss) by the weighted average number of common shares outstanding for the period. Diluted earnings (loss) per share is similarly computed, except that the denominator includes the effect, using the treasury stock method, of stock options, convertible preferred stock and warrants, if including such potential shares of common stock is dilutive. The following table presents a reconciliation of the weighted-average diluted shares outstanding:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
Weighted average common shares outstanding-basic |  |  | 13,234,709 |  |  |  | 5,834,568 |  |  |  | 12,697,206 |  |  |  | 5,834,568 |
Dilutive effect of: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock options |  |  | 20,400 |  |  |  | - |  |  |  | - |  |  |  | - |
Weighted average common shares outstanding-diluted |  |  | 13,255,109 |  |  |  | 5,834,568 |  |  |  | 12,967,206 |  |  |  | 5,834,568 |
We reported net losses for the three months ended September 30, 2017 and for the nine-month periods ended September 30, 2018 and 2017. As a result, our basic and diluted weighted average shares outstanding were the same for those periods because the effect of the common share equivalents was anti-dilutive. The following table presents the weighted-average common share equivalents excluded from the calculation of diluted earnings per share due to their anti-dilutive effect:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
Weighted average common shares equivalents excluded from diluted earnings per share due to their anti-dilutive effect: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock options |  |  | 300,062 |  |  |  | 390,525 |  |  |  | 320,462 |  |  |  | 390,525 |
Unvested shares of common stock |  |  | - |  |  |  | 100,000 |  |  |  | - |  |  |  | 100,000 |
Outstanding warrants |  |  | 1,000,000 |  |  |  | 1,000,000 |  |  |  | 1,000,000 |  |  |  | 1,000,000 |
Series A convertible preferred stock |  |  | 793,349 |  |  |  | 792,037 |  |  |  | 793,349 |  |  |  | 767,823 |
Total |  |  | 2,093,411 |  |  |  | 2,282,562 |  |  |  | 2,113,811 |  |  |  | 2,258,348 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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