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Note 11 - (Loss) Income Per Share | 6 Months Ended
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Jun. 30, 2022
Notes to Financial Statements |
Earnings Per Share [Text Block] |
Note 11. | (Loss) Income Per Share
Basic loss per share excludes dilution and is computed by dividing loss available to common shareholders by the weighted-average number of shares outstanding for the period. Diluted earnings (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock, except for periods when the Company reports a net loss because the inclusion of such items would be antidilutive. The antidilutive effect of 711,537 shares from stock options and 146,269 shares from warrants were excluded from diluted shares for the three months ended June 30, 2022, and the antidilutive effect of 713,035 shares from stock options and 239,779 shares from warrants were excluded from diluted shares for the six months ended June 30, 2022. The dilutive effect of outstanding options and warrants is reflected in earnings per share by use of the treasury stock method. No shares were excluded from diluted shares for the three- and six-month periods ended June 30, 2021. The following is a reconciliation of the amounts used in calculating basic and diluted net (loss) income per common share:
|  | Three months ended June 30, |  |  | Six months ended June 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Net (loss) income |  | $ | (1,525,442 | ) |  | $ | 43,157 |  |  | $ | (3,603,749 | ) |  | $ | 313,972 |
Basic weighted average shares outstanding |  |  | 17,376,697 |  |  |  | 11,980,397 |  |  |  | 17,335,979 |  |  |  | 11,633,464 |
Dilutive effect of warrants and/or options |  |  | - |  |  |  | 684,870 |  |  |  | - |  |  |  | 671,718 |
Diluted weighted average shares outstanding |  |  | 17,376,697 |  |  |  | 12,665,267 |  |  |  | 17,335,979 |  |  |  | 12,305,182 |
Basic (loss)/earnings per share |  | $ | (0.09 | ) |  | $ | 0.00 |  |  | $ | (0.21 | ) |  | $ | 0.03 |
Diluted (loss)/earnings per share |  | $ | (0.09 | ) |  | $ | 0.00 |  |  | $ | (0.21 | ) |  | $ | 0.03 |

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