Earnings Per Share

12 Months Ended

Dec. 31, 2019

8. Earnings Per Share

Shares used in calculating basic and diluted earnings per share are as follows:


	Year Ended December 31,
	2019	2018
Basic	18,857,657	18,280,788
Effect of exercise of warrants	—	850
Diluted	18,857,657	18,281,638

As a result of the net loss presented for the Current Year, the Company calculated diluted earnings per share using basic weighted-average shares outstanding for such period, as utilizing diluted shares would be anti-dilutive to loss per share

The computation of basic and diluted earnings per share excludes the common stock equivalents of the following potentially dilutive securities because their inclusion would be anti-dilutive:


	Year Ended December 31,
	2019	2018
Stock options and warrants	7,802,440	4,421,625