EARNING PER SHARE BASIC AND FULLY DILUTED

9 Months Ended

Sep. 30, 2019

Earnings Per Share, Basic and Diluted [Abstract]

EARNING PER SHARE BASIC AND FULLY DILUTED

Basic earnings per common share is computed by dividing net income by the weighted average number of common shares outstanding during the reporting period. Diluted earnings per common share is computed similar to basic earnings 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 notes, warrants and vested and unvested stock options.

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

	For the three months ended				For the nine months ended
	September 30,				September 30,
	2019		2018		2019		2018
Net earnings - basic	$	1,557	$	1,886	$	999	$	6,069
Net earnings - diluted	$	1,557	$	1,886	$	999	$	6,069
Weighted average shares outstanding - basic		18,935,746		141,041		7,847,468		141,041
Series B convertible preferred shares		-		13,963,048		-		13,963,048
Weighted average shares outstanding - diluted		18,935,746		14,104,089		7,847,468		14,104,089

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

	For the three and nine months ended
	September 30,
	2019		2018
Options		61,825		15,566
Series A convertible preferred shares		4,654,399		-
Total		4,716,224		15,566