WEIGHTED AVERAGE COMMON SHARES

12 Months Ended

Dec. 31, 2017

WEIGHTED AVERAGE COMMON SHARES [Abstract]

3.	WEIGHTED AVERAGE COMMON SHARES

The weighted average number of common shares used to compute basic and diluted income per share for the years ended December 31, 2017, 2016 and 2015, respectively were as follows:

	Year Ended December 31,
	2017		2016		2015
Basic shares outstanding		23,906,395		23,453,427		23,166,977
Dilutive effect of stock options		-		-		-
Diluted shares outstanding		23,906,395		23,453,427		23,166,977

For the years ended December 31, 2017, 2016 and 2015, options to acquire 570,306; 773,078; and 119,722 shares, respectively, were excluded from the above table because the Company reported a net loss for the year and therefore their impact on reported loss per share would have been antidilutive. For the years ended December 31, 2017, 2016 and 2015, options to acquire 167,667; 218,167; and 391,935 shares; respectively, were excluded from the above table because they have an exercise price that is greater than the average market price of the Company’s common stock and, therefore, their impact on reported loss per share would have been antidilutive.