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Earnings Per Share
 9 Months Ended
Sep. 30, 2023
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

12. EARNINGS PER SHARE

 

The Company calculates earnings per share in accordance with FASB ASC 260, Earnings Per Share, which requires a dual presentation of basic and diluted earnings per share. Basic earnings per share are computed using the weighted average number of shares outstanding during the fiscal year. Potentially dilutive common shares consist of stock options outstanding (using the treasury method).

 

The following table sets forth the computation of basic and diluted net income per common share:

 

   Nine-Month Period 
   Ended September 30, 
   2023   2022 
Net Loss  $(3,006,708)  $(2,422,320)
Weighted Average Shares of Common Stock Outstanding          
Basic   13,225,858    11,844,900 
Diluted   13,225,858    11,844,900 
           
Earnings Per Share – Basic          
Net Loss Per Share   (0.23)   (0.20)
           
Earnings Per Share – Diluted          
Net Loss Per Share   (0.23)   (0.20)

 

   Three-Month Period 
   Ended September 30, 
   2023   2022 
Net Loss  $(748,902)  $(920,060)
Weighted Average Shares of Common Stock Outstanding          
Basic   13,241,171    11,679,523 
Diluted   13,241,171    11,679,523 
           
Earnings Per Share – Basic          
Net Loss Per Share   (0.06)   (0.08)
           
Earnings Per Share – Diluted          
Net Loss Per Share   (0.06)   (0.08)