WEIGHTED AVERAGE COMMON SHARES

3 Months Ended

Mar. 31, 2018

WEIGHTED AVERAGE COMMON SHARES [Abstract]

2.	WEIGHTED AVERAGE COMMON SHARES

The weighted average number of common shares used to compute basic and diluted loss per share for the three months ended March 31, 2018 and 2017 was as follows:

	Three Months Ended March 31,
	2018		2017
Basic shares outstanding		24,137,577		23,609,308
Dilutive effect of stock options		-		-
Diluted shares outstanding		24,137,577		23,609,308

For the three months ended March 31, 2018 and 2017, options to acquire 127,973 and 631,927 shares were excluded from the above table because the Company reported a net loss for each period and, therefore, their impact on reported loss per share would have been antidilutive. For the three months ended March 31, 2018 and 2017, options to acquire 147,667 and 180,667 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.