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Note V - Earnings Per Share (EPS)
 12 Months Ended
Dec. 31, 2021
Notes to Financial Statements  
Earnings Per Share [Text Block]

NOTE V—EARNINGS PER SHARE (EPS)

 

The Company’s basic EPS is calculated using net income (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 preferred stock.

 

The reconciliation of the numerator of the basic and diluted EPS calculations for the following fiscal years ended December 31:

 

   

2021

    

2020

  
                 

Basic Numerator:

                

Net Loss

   $ (5,065,781

)

   $ (9,673,987

)

Deemed dividend from trigger of anti-dilution provision feature

     -       (112,686

)

Net loss available to common stockholders (basic and diluted EPS)

   $ (5,065,781

)

   $ (9,786,673

)

 

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 net losses.

 

   

Years ended December 31,

  
   

2021

    

2020

  
                 

Stock options

     -       1,002  

Restricted stock

     -       3,098  

Potentially dilutive securities

     -       4,100  

 

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

 

   

Years ended December 31,

  
   

2021

    

2020

  
                 

Stock options

     212,461       223,899  

Warrants

     4,689,387       4,689,387  

Total

     4,901,848       4,913,286