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Earnings Per Share | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share Basic earnings per share ("EPS") is calculated by dividing net income (loss) attributable to the Company's common shareholders by the weighted average number of common shares outstanding for the period. The following table provides a reconciliation of the numerator and denominator of the EPS calculations:
| Three months ended September 30, |  | Nine months ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Numerator |  |  |  |  |  |  |
Net income | $ | 357,000 |  |  | $ | 2,930,000 |  |  | $ | 698,000 |  |  | $ | 1,877,000 |
Preferred stock dividends | (2,674,000) |  |  | (2,688,000) |  |  | (8,050,000) |  |  | (8,064,000) |
Deemed contribution related to preferred stock repurchases | 828,000 |  |  | — |  |  | 828,000 |  |  | — |
Net (loss) income attributable to common shares | $ | (1,489,000) |  |  | $ | 242,000 |  |  | $ | (6,524,000) |  |  | $ | (6,187,000) |
Denominator |  |  |  |  |  |  |
Weighted average number of common shares outstanding | 13,718,169 |  | 13,718,169 |  | 13,718,169 |  | 13,718,169
Net (loss) income per common share attributable to common shareholders | $ | (0.11) |  |  | $ | 0.02 |  |  | $ | (0.48) |  |  | $ | (0.45) |

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