XML 31 R20.htm IDEA: XBRL DOCUMENT

Net Income (Loss) Per Share

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

NOTE 13. NET INCOME (LOSS) PER SHARE

The calculation of the weighted average number of shares outstanding and income (loss) per share outstanding for the three and nine months ended September 30, 2020 and 2019 are as follows:

		Three Months Ended September 30,								Nine months ended September 30,
		2020				2019				2020				2019
Numerator for basic and diluted income per share – Net loss		$	527,442			$	(2,985,825	)		$	(2,304,562	)		$	(6,578,729	)

Denominator for basic loss per share – weighted average shares outstanding			26,613,109				11,637,289				19,861,694				11,296,999

Dilutive effect of shares issuable under stock options outstanding			14,832				—				—				—

Dilutive effect of shares issuable under common stock purchase warrants and convertible debt outstanding			—				—				—				—

Denominator for diluted income (loss) per share – adjusted weighted average shares outstanding			26,627,941				11,637,289				19,861,694				11,296,999

Net income (loss) per share:
Basic		$	0.02			$	(0.26	)		$	(0.12	)		$	(0.58	)
Diluted		$	0.02			$	(0.26	)		$	(0.12	)		$	(0.58	)

Basic income (loss) per share is based upon the weighted average number of common shares outstanding during the respective periods. For the three months ended September 30, 2020, certain shares issuable upon exercise of outstanding stock options were dilutive and such dilutive effect was determined under the treasury stock method and reflected in diluted average shares outstanding. For the nine months ended September 30, 2020 and for the three and nine months ended September 30, 2019, all shares issuable upon conversion of convertible debt and the exercise of outstanding stock options and warrants were antidilutive, and, therefore, not included in the computation of diluted income (loss) per share.