Income (Loss) Per Share

3 Months Ended

Mar. 31, 2021

PER SHARE DATA:

Income (Loss) Per Share

The following table represents the reconciliation of the Company's basic income (loss) per share and diluted income (loss) per share computations reported on the Condensed Consolidated Statements of Operations for the three months ended March 31, 2021 and 2020:

	Three Months Ended March 31
	2021		2020
Basic Income (Loss) Per Share
Net income (loss)	$	2,267,703	$	(1,043,826	)
Weighted average shares outstanding		5,304,885		5,306,720
Basic income (loss) per share	$	0.43	$	(0.20	)

	Three Months Ended March 31
	2021		2020
Diluted Income (Loss) Per Share
Net income (loss)	$	2,267,703	$	(1,043,826	)
Weighted average shares outstanding		5,304,885		5,306,720
Effect of diluted securities		-		-
Diluted shares outstanding		5,304,885		5,306,720
Diluted income (loss) per share	$	0.43	$	(0.20	)

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.