Numerator:

Numerator for basic and diluted income (loss) per share, net income (loss) available to common shareholders

$

2,851,267

$

(720,913

)

$

2,676,571

$

(501,039

)

Denominator:

Denominator for basic income (loss) per share, weighted average shares outstanding

27,322,497

26,383,144

26,747,277

26,386,586

Effect of dilutive securities

—

Denominator for diluted earnings per share, adjusted for weighted average shares and assumed conversion

27,322,497

26,383,144

26,747,277

26,386,586

Basic income (loss) per common share

$

0.10

$

(0.03

)

$

0.10

$

(0.02

)

Diluted income (loss) per common share and common share equivalent

$

0.10

$

(0.03

)

$

0.10

$

(0.02

)