Earnings Per Share

12 Months Ended

Dec. 31, 2020

9. Earnings Per Share

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


	Year Ended
	December 31,
	2020	2019
Basic	19,117,460	18,857,657
Effect of exercise of warrants	—	—
Effect of exercise of stock options	—	—
Diluted	19,117,460	18,857,657

As a result of the net loss presented for the Current Year and Prior 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,
	2020	2019
Stock options and warrants	7,759,190	7,802,440