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NOTE 9 — Net Income Per Share

3 Months Ended

Mar. 31, 2022

Accounting Policies [Abstract]

NOTE 9 — Net Income Per Share

NOTE 9 — Net Income Per Share

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

SOCKET MOBILE, INC.

NOTES TO CONDENSED FINANCIAL STATEMENTS

(Unaudited)

March 31, 2022

		Three Months Ended March 31,
		2022				2021
Numerator:
Net income		$	341,933			$	202,902
Net income allocated to restricted stock award			31,752				17,365
Adjusted net income before interest for diluted earnings per share		$	310,181				185,537
Denominator: Weighted average shares outstanding used in computing net income per share:
Basic			7,234,163				6,484,391
Effect of dilutive stock options			490,194				821,597
Diluted			7,724,357				7,305,988
Net income per share applicable to common stockholders:
Basic		$	0.04			$	0.03
Diluted		$	0.04			$	0.03

In the three months ended March 31, 2022, the shares used in computing diluted net loss per share do not include 287,928 stock options, 50,000 warrants and 958,904 shares related to convertible notes payable as their effect would be anti-dilutive.

In the three months ended March 31, 2021, 50,000 warrants and 1,007,081 shares related to convertible notes payable were excluded in the calculation of diluted net loss per share because their effect would be anti-dilutive.

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- References

No definition available.

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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 https://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 https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257

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