Note 14 - Earnings (Loss) Per Share - Common Stock ("EPS")

6 Months Ended

Jun. 30, 2020

14.	EARNINGS (LOSS) PER SHARE - COMMON STOCK (“EPS”)

The Company's basic EPS is calculated using net loss available to common shareholders and the weighted-average number of shares outstanding during the reporting period. Diluted EPS includes the effect from potential issuance of common stock, such as stock issuable pursuant to the exercise of stock options and warrants and the assumed conversion of convertible notes.

The reconciliation of the numerator of the basic and diluted EPS calculations was as follows for both of the following

three

and

six

month periods ended

June 30, 2020

and

2019:

	Three Months ended June 30,						Six Months ended June 30,
	2020			2019			2020			2019
Basic and Diluted Numerator:

Net loss	$	(1,572,709	)	$	(1,425,743	)	$	(4,942,991	)	$	(3,229,251	)
Deemed dividends related to down-round features		-			-			(112,686	)		-
Net loss available to common stockholders (basic and diluted)	$	(1,572,709	)	$	(1,425,743	)	$	(5,055,677	)	$	(3,229,251	)

Items excluded from the diluted per share calculation because the exercise price was greater than the average market price of the common shares:

	Three Months ended June 30,				Six Months ended June 30,
	2020		2019		2020		2019

Stock options		1,603,054		1,551,349		1,603,054		1,784,183
Warrants		5,651,889		3,780,976		5,651,889		3,780,976
Total		7,254,943		5,332,325		7,254,943		5,565,159

The following table summarizes the weighted average securities that were excluded from the diluted per share calculation because the effect of including these potential shares was antidilutive due to the net losses for the

three

and

six

months ended

June 30, 2020

and

2019:

	Three Months ended June 30,				Six Months ended June 30,
	2020		2019		2020		2019

Stock options		1,326		4,071		748		-
Warrants		80,797		-		49,818		-
Convertible notes		3,837,165		368,952		3,837,165		278,243
Total		3,919,288		373,023		3,887,731		278,243