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LOSS PER SHARE

9 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

LOSS PER SHARE

14. LOSS PER SHARE

Basic net income and loss per common share is calculated by dividing net income or loss attributable to common shareholders by the weighted-average number of common shares outstanding for the respective period. Diluted net income and loss per common share is calculated by dividing adjusted net income or 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 nine months ended September 30, 2021 and the three and nine months ended September 30, 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 income and loss per share for the three and nine months ended September 30, 2021 and 2020:

 SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE

		2021				2020				2021				2020
		Three Months Ended September 30,								Nine Months Ended September 30,
		2021				2020				2021				2020
		(in thousands except per share data)
Net income (loss)		$	81			$	(1,713	)		$	(288	)		$	(5,670	)
Accrued dividend on Series A preferred stock			-				(107	)			-				(310	)
Loss applicable to common shareholders		$	81			$	(1,820	)		$	(288	)		$	(5,980	)
Basic weighted average common shares outstanding			4,676				1,400				4,430				1,387
Dilutive effect of warrants			2				-				-				-
Dilutive effect of unvested restricted stock			43				-				-				-
Diluted weighted average common shares outstanding			4,721				1,400				4,430				1,387
Basic net income (loss) per share		$	0.02			$	(1.30	)		$	(0.07	)		$	(4.31	)
Diluted net income (loss) per share		$	0.02			$	(1.30	)		$	(0.07	)		$	(4.31	)

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:

 SCHEDULE OF ANTIDILUTIVE WEIGHTED AVERAGE SHARES

		Three Months Ended September 30,								Nine Months Ended September 30,
		2021				2020				2021				2020
		(in thousands)
Stock options			-				32				31				32
Unvested shares of restricted stock			-				76				158				69
Warrants			-				100				50				100
Series A preferred stock			-				79				-				79
Total			-				287				239				280

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI http://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257

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