Note 3 - Earnings Per Common Share (EPS)

6 Months Ended

Jun. 30, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

3. Earnings Per Common Share (EPS)

Basic EPS is calculated using net loss divided by the weighted average of common shares outstanding.  Diluted EPS is calculated similarly to Basic EPS except that the weighted average number of common shares outstanding is increased to include the number of additional common shares that would have been outstanding if the potential dilutive common shares, such as those shares subject to options, had been issued.  The options disclosed in Note

5

 have been excluded from the computation because of their antidilutive effect. 

Shares used in the calculation of diluted EPS are summarized below:

	Three Months Ended
	Jun 30, 2020		Jun 30, 2019
Weighted average common shares outstanding		1,976,354		1,982,275
Dilutive effect of stock options		—		—
Weighted average common and common equivalent shares outstanding		1,976,354		1,982,275

		Six Months Ended
	Jun 30, 2020		Jun 30, 2019
Weighted average common shares outstanding		1,976,354		1,982,910
Dilutive effect of stock options		—		—
Weighted average common and common equivalent shares outstanding		1,976,354		1,982,910

If the Company was in a net income position for the

three

and

six

months ended

June 

30,

2020,

all

21,500

 options outstanding with a weighted average exercise price of

$7.38

 would have remained excluded from the computation of common share equivalents as the options were anti-dilutive. 

If the Company was in a net income position for the

three

and

six

months ended

June 

30,

2019,

all

16,000

 options outstanding with a weighted average exercise price of

$12.17

 would have remained excluded from the computation of common share equivalents as the options were anti-dilutive.