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EARNINGS (LOSS) PER SHARE
 3 Months Ended
Mar. 31, 2023
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:

 

   2023   2022 
   For the Three Months Ended
March 31,		 
   2023   2022 
         
Net loss used for basic earnings per share  $(3,846,221)  $(4,319,787)
           
Basic weighted-average common shares outstanding   4,959,122    3,529,405 
Dilutive potential shares issuable from stock options and warrants   —    — 
Diluted weighted-average common shares outstanding   4,959,122    3,529,405 

 

   As of March 31, 
   2023   2022 
Shares of common stock subject to outstanding options   552,561    486,402 
Shares of common stock subject to outstanding warrants   4,254,766    981,603 
Total common stock equivalents   4,807,327    1,468,005 

 

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