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Earnings (Loss) Per Share | 9 Months Ended
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Sep. 30, 2019
Earnings Per Share [Abstract] |
Earnings (Loss) Per Share | 13. EARNINGS (LOSS) PER SHARE Basic net earnings (loss) per common share is calculated by dividing net earnings (loss) attributable to common shareholders by the weighted-average number of common shares outstanding for the respective period. Diluted net earnings (loss) per common share is calculated by dividing adjusted net earnings (loss) by the diluted weighted average number of common shares outstanding, which includes the effect of potentially dilutive securities. Potentially dilutive securities for this calculation consist of stock options and warrants, which are measured using the treasury stock method and the conversion feature of the Series A Preferred Stock. When the Company recognizes a net loss attributable to common shareholders, as was the case for the three and nine-month periods ended September 30, 2019 and the nine-month period ended September 30, 2018, all potentially dilutive shares are anti-dilutive and are consequently excluded from the calculation of dilutive net loss per common share. The following table sets forth the calculation of basic and diluted net loss per share.
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
|  | (in thousands except per share data) |
Net income (loss) |  | $ | (281 | ) |  | $ | 467 |  |  | $ | (246 | ) |  | $ | (950 | )
Accrued dividend on Series A preferred stock |  |  | (95 | ) |  |  | (84 | ) |  |  | (273 | ) |  |  | (242 | )
Loss applicable to common shareholders |  | $ | (376 | ) |  | $ | 383 |  |  | $ | (519 | ) |  | $ | (1,192 | )
Basic weighted average common shares outstanding |  |  | 13,406 |  |  |  | 13,235 |  |  |  | 13,406 |  |  |  | 12,697 |
Dilutive effect of potentially dilutive securities |  |  | - |  |  |  | 20 |  |  |  | - |  |  |  | - |
Diluted weighted average common shares outstanding |  |  | 13,406 |  |  |  | 13,255 |  |  |  | 13,406 |  |  |  | 12,697 |
Basic net loss per share |  | $ | (0.03 | ) |  | $ | 0.03 |  |  | $ | (0.04 | ) |  | $ | (0.09 | )
Diluted net loss per share |  | $ | (0.03 | ) |  | $ | 0.03 |  |  | $ | (0.04 | ) |  | $ | (0.09 | )
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, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
|  | (in thousands) |
Stock options |  |  | 318 |  |  |  | 300 |  |  |  | 320 |  |  |  | 320 |
Outstanding warrants |  |  | 1,000 |  |  |  | 1,000 |  |  |  | 1,000 |  |  |  | 1,000 |
Series A convertible preferred stock |  |  | 793 |  |  |  | 793 |  |  |  | 793 |  |  |  | 793 |
Total |  |  | 2,111 |  |  |  | 2,093 |  |  |  | 2,113 |  |  |  | 2,113 |

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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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