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EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

NOTE 10 – EARNINGS PER SHARE

 

The Company calculates earnings/(loss) per share data by calculating the quotient of earnings/(loss) divided by the weighted average number of common shares outstanding during the respective period as required by ASC 260-10-50. Due to the net losses for the three and six months ended June 30, 2023 and 2022, all shares underlying the related party convertible debt, common stock warrants, and common stock options were excluded from the earnings per share calculation due to their anti-dilutive effect.

 

Calculation of net earnings per common share — basic and diluted:

 

                               
    For the
three months ended		     For the
six months ended		  
    June 30,
2023		     June 30,
2022		     June 30,
2023		     June 30,
2022		  
Basic and diluted:                                
Net loss   $ (1,287,802 )   $ (1,193,812 )   $ (2,718,612 )   $ (2,400,371 )
Weighted-average number of common shares     8,570,035       6,060,187       8,072,340       6,060,187  
Basic and diluted net loss per common share   $ (0.15 )   $ (0.20 )   $ (0.34 )   $ (0.40 )