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Net (Loss) Income Per Share

6 Months Ended

Jun. 30, 2022

9. Net (Loss) Income Per Share

Basic earnings and net (loss) income per share are computed by dividing the net (loss) income available to common stockholders by the weighted average number of common shares outstanding during the period as defined by ASC Topic 260, Earnings Per Share. Diluted earnings per share is computed using the weighted average number of common shares and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options (using the treasury stock method). To the extent stock options are antidilutive, they are excluded from the calculation of diluted income per share. For the three and six months ended June 30, 2022, 646,401 shares issuable upon the exercise of outstanding stock options, respectively, were not included in the computation of diluted net loss per share because their inclusion would be antidilutive. For the three and six months ended June 30, 2022, no shares issuable upon the exercise of outstanding stock options, respectively, were included in the computation of diluted net loss per share from operations because their inclusion would be dilutive. For the three and six months ended June 30, 2021, 494,385 and 510,208 shares issuable upon the exercise of outstanding stock options, respectively, were not included in the computation of diluted net income per share because their inclusion would be antidilutive. For the three and six months ended June 30, 2021, 23,857 and 7,764 shares issuable upon the exercise of outstanding stock options, respectively, were included in the computation of diluted net income per share from operations because their inclusion would be dilutive.

The following table summarizes the net (loss) income per share calculation for the periods presented:

	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2022			2021		2022			2021
Net (loss) income from operations – basic and diluted	$	(1,128,706	)	$	821,684	$	(1,867,651	)	$	1,738,413
Weighted average shares outstanding – basic		9,771,608			6,906,454		9,801,715			6,906,454
Weighted average shares outstanding – diluted		9,771,608			6,930,041		9,801,715			6,918,248
Per share data:
Basic from operations	$	(0.12	)	$	0.12	$	(0.19	)	$	0. 25
Diluted from operations	$	(0.12	)	$	0.12	$	(0.19	)	$	0.25