Note 6 - Net (Loss) Per Share

3 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 6. Net (Loss) Per Share

Basic income (loss) per share (EPS) was computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted EPS differs from basic EPS due to the assumed conversion of potentially dilutive awards and options that were outstanding during the period. Unvested restricted stock awards have the right to receive nonforfeitable dividends on the same basis as common shares; therefore, unvested restricted stock is considered a participating security for the purpose of calculating EPS. The following is a reconciliation of the numerators and the denominators of the basic and diluted per share computations for net income (loss) for the three months ended March 31, 2024 and March 31, 2023.

	Three Months Ended March 31,
	2024			2023
Numerator:
Numerator for basic and diluted income (loss) per share, net (loss) available to common shareholders	$	(250,188	)	$	14,833
Denominator:
Common stock		19,990,862			20,122,972
Restricted stock awards		6,384,900			6,385,900
Denominator for basic income (loss) per share, weighted average shares outstanding		26,375,762			26,508,872
Effect of dilutive securities		—			945,599
Denominator for diluted earnings per share, adjusted for weighted average shares and assumed conversion		26,375,762			27,454,471
Basic income (loss) per common share	$	(0.01	)	$	0.00
Diluted income (loss) per common share and common share equivalent	$	(0.01	)	$	0.00

The awards and options to purchase shares of common stock that were outstanding at March 31, 2024 and March 31, 2023 that were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive, are as follows:

	Three Months Ended March 31,
	2024		2023
Anti-dilutive awards and options		945,599		945,599