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NOTE 10 — Net Income (Loss) Per Share

3 Months Ended

Sep. 30, 2022

Accounting Policies [Abstract]

NOTE 10 — Net Income (Loss) Per Share

NOTE 10 — 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 per share:

		Three Months Ended September 30,								Nine Months Ended September 30,
		2022				2021				2022				2021
Numerator:
Net income (loss)		$	(874,034	)		$	643,626			$	(428,142	)		$	3,473,635
Net income (loss) allocated to restricted stock award			92,388				(55,001	)			42,794				(297,932	)
Adjusted net income (loss) for basic earnings per share		$	(781,646	)		$	588,625			$	(385,348	)		$	3,175,703
Convertible note interest			—				43,560				—				132,315
Adjusted net income (loss) before interest for diluted earnings per share		$	(781,646	)		$	632,185			$	(385,348	)		$	3,308,018
Denominator: Weighted average shares outstanding used in computing net income (loss) per share:
Basic			7,153,210				7,162,924				7,202,239				6,927,837
Effect of dilutive stock options			—				817,556				—				1,045,654
Effect of convertible note weighted shares			—				958,904				—				958,904
Diluted			7,153,210				8,939,384				7,202,239				8,932,395
Net income (loss) per share applicable to common stockholders:
Basic		$	(0.11	)		$	0.08			$	(0.05	)		$	0.46
Diluted		$	(0.11	)		$	0.07			$	(0.05	)		$	0.37

In the three and nine months ended September 30, 2022, 1,334,522 stock options and 50,000 warrants were excluded in the calculation of diluted net loss per share as their effect would have been anti-dilutive.

SOCKET MOBILE, INC.

NOTES TO CONDENSED FINANCIAL STATEMENTS

(Unaudited)

September 30, 2022

In the three and nine months ended September 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.

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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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