Three Months Ended

September 30,

Nine Months Ended

September 30,

2021

2020

2021

2020

Numerator:

Net income (loss)

$

643,626

$

(4,002,786

)*

$

3,473,635

$

(4,861,136

)*

Net income (loss) allocated to restricted stock award

(55,001

)

264,275

(297,932

)

263,128

Adjusted net income (loss) for basic earnings per share

$

588,625

$

(3,738,511

)*

$

3,175,703

$

(4,598,008

)*

Convertible note interest

43,560

—

132,315

—

Adjusted net income (loss) before interest for diluted earnings per share

$

632,185

$

(3,738,511

)*

$

3,308,018

$

(4,598,008

)*

Denominator: Weighted average shares outstanding used in computing net income (loss) per share:

Basic

7,162,924

6,037,559

6,927,837

6,020,363

Effect of dilutive stock options

817,556

—

1,045,654

—

Effect of convertible note shares

958,904

—

958,904

—

Diluted

8,939,384

6,037,559

8,932,395

6,020,363

Net income (loss) per share applicable to common stockholders:

Basic

$

0.08

$

(0.62

)*

$

0.46

$

(0.76

)*

Diluted

$

0.07

$

(0.62

)*

$

0.37

$

(0.76

)*