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Note 9 - (Loss) Earnings Per Share Applicable to Common Stockholders
3 Months Ended
Mar. 31, 2023
Notes to Financial Statements  
Earnings Per Share [Text Block]

NOTE 9 (LOSS) EARNINGS PER SHARE APPLICABLE TO COMMON STOCKHOLDERS

 

Basic (loss) earnings per common share is computed by dividing net income by the weighted average number of common shares outstanding during the reporting period. Diluted (loss) earnings per common share is computed similar to basic earnings (loss) per common share except that it reflects the potential dilution that could occur if dilutive securities or other obligations to issue common stock were exercised or converted into common stock. Diluted weighted average common shares include common stock potentially issuable under the Company’s convertible preferred stock, warrants and vested and unvested stock options.

 

For the three months ended March 31, 2022, net income is adjusted for gain from change in fair value of warrant liabilities.

 

The following table sets forth the computation of (loss) earnings per share (amounts in thousands, except share and per share amounts):

 

   

For the three months ended

 
   

March 31,

 
   

2023

   

2022

 

Net (loss) income - basic

  $ (1,390 )   $ 706  

Reversal of gain due to change in fair value of warrant liability

    -       (340 )

Net (loss) income - diluted

  $ (1,390 )   $ 366  
                 

Weighted average shares outstanding - basic

    211,934,041       211,007,522  

Diluted preferred shares

    -       31,847,239  

Weighted average shares outstanding - diluted

    211,934,041       242,854,761  
                 

Basic (loss) earnings per share

  $ (0.01 )   $ 0.00  

Diluted (loss) earnings per share

  $ (0.01 )   $ 0.00  

 

The following securities were not included in the diluted net income (loss) per share calculation because their effect was anti-dilutive as of the periods presented (in thousands):

 

   

For the three months ended

 
   

March 31,

 
   

2023

   

2022

 

Options

    5,972       6,863  

Warrants

    40,338       40,338  

Total

    46,310       47,201