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NOTE 9 — Net Income (Loss) Per Share

6 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

NOTE 9 — Net Income (Loss) Per Share

NOTE 9 — Net Income (Loss) Per Share

The following table sets forth the reconciliation of basic shares to diluted shares and the computation of basic and diluted net income (loss) per share:

		Three Months Ended June 30,								Six Months Ended June 30,
		2021				2020				2021				2020
Numerator:
Net income (loss)		$	2,627,107			$	(768,023	)		$	2,830,009			$	(858,350	)
Net income (loss) allocated to restricted stock award			226,630				(45,890	)			243,205				(40,262	)
Adjusted net income (loss) for basic earnings per share		$	2,400,477			$	(722,133	)		$	2,586,804			$	(818,088	)
Convertible note interest			43,177				—				88,755				—
Adjusted net income (loss) for diluted earnings per share		$	2,443,654			$	(722,133	)		$	2,675,559			$	(818,088	)
Denominator:: Weighted average shares outstanding used in computing net income (loss) per share:
Basic			7,128,768				6,009,383				6,808,339				6,011,695
Effect of dilutive stock options			819,680				—				826,387				—
Effect of convertible note weighted shares			958,904				—				958,904				—
Diluted			8,907,352				6,009,383				8,593,630				6,011,695
Net income (loss) per share applicable to common stockholders:
Basic		$	0.34			$	(0.13	)		$	0.38			$	(0.14	)
Diluted		$	0.27			$	(0.13	)		$	0.31			$	(0.14	)

In the three and six months ended June 30, 2021, 45,000 stock options and 50,000 warrants were excluded in the calculation of diluted net income per share as their effect would have been anti-dilutive.

In the three and six months ended June 30, 2020, 2,259,937 stock options and 394,506 shares of restricted stock were excluded in the calculation of diluted net loss per share because their effect would have been anti-dilutive.

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- References

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- Definition

Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257

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