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Note 8 - Earnings Per Share

6 Months Ended

Jun. 30, 2023

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE 8 – EARNINGS PER SHARE

Basic and diluted net income (loss) per common share is determined by dividing net income (loss) by the weighted average number of shares of Common Stock outstanding during the period. For the periods where there is a net loss, stock options, warrants and Restricted Stock Units (“RSUs”) have been excluded from the calculation of diluted net loss per common share because their effect would be anti-dilutive. Consequently, the weighted average number of shares of Common Stock used to calculate both basic and diluted net loss per common share are the same for the reported periods.

As of June 30, 2023, the Company had outstanding balances of 341,545 RSUs, 3,930,000 prefunded warrants, and 560,000 warrants, all exercisable for shares of Common Stock.

As of June 30, 2022, the Company had outstanding balances of 323,377 RSUs, 3,930,000 prefunded warrants, and 560,000 warrants, all exercisable for shares of Common Stock.

The following table shows the amounts used in computing earnings per share and the weighted average number of shares of potentially dilutive Common Stock for the three and six months ended June 30, 2023 and 2022:

		For the Three Months								For the Six Months
		Ended June 30,								Ended June 30,
		2023				2022				2023				2022
Net (Loss)			(1,555,292	)			(6,507,059	)			(3,944,795	)			(10,253,483	)
Weighted average number of common shares used in basic earnings per share			5,660,007				4,012,187				5,656,809				3,344,208
Effect of dilutive securities, stock options, RSUs, and warrants			-				-				-				-
Weighted average number of common shares and potential dilutive common shares outstanding used in dilutive earnings per share			5,660,007				4,012,187				5,656,809				3,344,208

For the three and six months ended June 30, 2023 and 2022, respectively, the Company had no options outstanding to purchase Common Stock.

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The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//260/tableOfContent

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-3

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