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Note 16 - Earnings (Loss) Per Share - Common Stock (EPS)

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Earnings Per Share [Text Block]

16. 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 nine month periods ended September 30, 2021 and 2020:

		Three Months ended September 30,								Nine Months ended September 30,
		2021				2020				2021				2020
Basic and Diluted Numerator:
Net loss		$	(1,023,647	)		$	(3,293,552	)		$	(3,036,761	)		$	(8,236,543	)
Deemed dividends related to down-round features			-				-				-				(112,686	)
Net loss available to common stockholders (basic and diluted)		$	(1,023,647	)		$	(3,293,552	)		$	(3,036,761	)		$	(8,349,229	)

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 September 30,								Nine Months ended September 30,
		2021				2020				2021				2020
Stock options			212,545				200,382				212,545				200,382
Warrants			4,689,387				706,487				4,689,387				706,487
Total			4,901,932				906,869				4,901,932				906,869

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 periods:

		Three Months ended September 30,								Nine Months ended September 30,
		2021				2020				2021				2020
Stock options			-				303				-				2,353
Warrants			-				39,825				-				368,240
Restricted stock			-				1,035				3,598				4,134
Total			-				41,163				3,598				374,727

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The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
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-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI http://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257

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