Earnings Per Share

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Earnings Per Share

NOTE 3 – LOSS PER SHARE

The following table represents the reconciliation of the Company's basic loss per share and diluted loss per share computations reported on the Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2020 and 2019:

	Three Months Ended					Nine Months Ended
	September 30					September 30
	2020			2019		2020			2019
Basic Earnings (Loss) Per Share
Net income (loss)	$	(17,940,488	)	$	212,467	$	(19,419,128	)	$	(735,284	)
Weighted average shares outstanding		5,305,742			5,306,747		5,306,068			5,306,929
Basic earnings (loss) per share	$	(3.38	)	$	0.04	$	(3.66	)	$	(0.14	)
Diluted Earnings (Loss) Per Share
Net income (loss)	$	(17,940,488	)	$	212,467	$	(19,419,128	)	$	(735,284	)
Weighted average shares outstanding		5,305,742			5,306,747		5,306,068			5,306,929
Diluted shares outstanding		5,305,742			5,306,747		5,306,068			5,306,929
Diluted earnings (loss) per share	$	(3.38	)	$	0.04	$	(3.66	)	$	(0.14	)

Basic earnings per share exclude the impact of common share equivalents and are based upon the weighted average common shares outstanding. Diluted earnings per share utilize the average market price per share when applying the treasury stock method in determining common share dilution. When outstanding stock options are dilutive, they are treated as common share equivalents for purposes of computing diluted earnings per share and represent the difference between basic and diluted weighted average shares outstanding. In loss periods, stock options are excluded from the calculation of diluted loss per share, as the inclusion of stock options would have an anti-dilutive effect.