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

)