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COMPUTATION OF LOSS PER SHARE
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
COMPUTATION OF LOSS PER SHARE

NOTE 12 - COMPUTATION OF LOSS PER SHARE

 

Computation of basic and dilutive loss per share for the three and nine months ended September 30, 2024 and 2023 are as follows:

  

   For the three months ended September 30, 2024   For the three months ended September 30, 2023   For the nine months ended September 30, 2024   For the nine months ended September 30, 2023 
Net income (loss) available to common stockholders  $1,195,000   $97,000   $(7,292,000)  $(5,348,000)
Weighted-average common shares outstanding   9,095,504    4,220,259    7,341,204    3,726,259 
Basic and diluted income (loss) per share  $0.13   $0.03   $(0.99)  $(1.44)

 

Basic net loss per share is based on the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share reflects the potential dilution assuming shares of common stock were issued upon the exercise of outstanding in-the-money options and the proceeds thereof were used to purchase shares of the Company’s common stock at the average market price during the period using the treasury stock method.

 

For the three and nine months ended September 30, 2024 and 2023, options to purchase 98,178 and 91,261 shares of common stock, respectively and options to purchase 902,113 common stock warrants for both September 30, 2024 and 2023 were excluded in the calculation of diluted net loss per share as the result would have been anti-dilutive.