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EARNINGS (LOSS) PER SHARE
 12 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
EARNINGS (LOSS) PER SHARE

NOTE 12 — EARNINGS (LOSS) PER SHARE

 

Basic earnings (loss) per share (“EPS”) is computed by dividing net income (loss) by the weighted-average number of common shares outstanding. Diluted EPS is computed based on the sum of the weighted-average number of common shares and potentially dilutive common shares outstanding during the period. Potentially dilutive common shares consist of shares issuable from stock options and warrants as shown below.

 

The following table reconciles net loss and the weighted-average shares used in computing basic and diluted EPS in the respective periods:

 

   2022   2021 
   For the Years Ended
December 31,		 
   2022   2021 
         
Net loss used for basic earnings per share  $(18,640,543)  $(17,897,137)
           
Basic weighted-average common shares outstanding   3,840,340    2,933,487 
Dilutive potential shares issuable from stock options and warrants   —    — 
Diluted weighted-average common shares outstanding   3,840,340    2,933,487 

 

   As of December 31, 
   2022   2021 
Shares of common stock subject to outstanding options   608,012    484,186 
Shares of common stock subject to outstanding warrants   4,575,617    982,140 
Total common stock equivalents   5,183,629    1,466,326 

 

 

Potentially dilutive common shares excluded from the calculation above represent stock options and warrants because their effect would be anti-dilutive.