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LOSS PER SHARE

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

14. LOSS PER SHARE

Basic net loss per common share is calculated by dividing net loss attributable to common shareholders by the weighted-average number of common shares outstanding for the respective period. Diluted net loss per common share is calculated by dividing adjusted net 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, the conversion feature of the Series A Preferred Stock prior to redemption, and unvested shares of restricted common stock. When the Company recognizes a net loss, as was the case for the three and six months ended June 30, 2021 and 2020, 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 for the three and six months ended June 30, 2021 and 2020:

			2021				2020				2021				2020
		Three Months Ended June 30,								Six Months Ended June 30,
		2021				2020				2021				2020
		(in thousands except per share data)
Net loss		$	(207	)		$	(3,651	)		$	(369	)		$	(3,957	)
Accrued dividend on Series A preferred stock			-				(103	)			-				(203	)
Loss applicable to common shareholders		$	(207	)		$	(3,754	)		$	(369	)		$	(4,160	)
Basic weighted average common shares outstanding			4,676				1,399				4,305				1,380
Dilutive effect of potentially dilutive securities			-				-				-				-
Diluted weighted average common shares outstanding			4,676				1,399				4,305				1,380

Basic net loss per share		$	(0.04	)		$	(2.68	)		$	(0.09	)		$	(3.01	)
Diluted net loss per share		$	(0.04	)		$	(2.68	)		$	(0.09	)		$	(3.01	)

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 June 30,								Six Months Ended June 30,
		2021				2020				2021				2020
		(in thousands)
Stock options			31				32				31				32
Unvested shares of restricted stock			174				76				150				65
Warrants			50				100				50				100
Series A preferred stock			-				79				-				79
Total			255				287				231				276