NET INCOME (LOSS) PER COMMON SHARE (Tables)

9 Months Ended

Sep. 30, 2020

NET INCOME (LOSS) PER COMMON SHARE [Abstract]

Reconciliation of Numerator and Denominator of Diluted Net Loss Per Share Computations

The following is a reconciliation of the numerator and denominator of the diluted net income (loss) per share computations for the periods presented below:

	Three Months Ended September 30,					Nine Months Ended September 30,
(in thousands, except share data)	2020			2019		2020			2019
Numerator:
Net income (loss)	$	3,512		$	1,340	$	2,545		$	(7,192	)
Less: preferred stock dividend		(1,074	)		-		(1,074	)		-
Less: allocation to preferred stockholders		(433	)		-		(259	)		-
Less: allocation to restricted stockholders		(120	)		-		(65	)		-
Net income (loss) allocated to common stockholders	$	1,885		$	1,340	$	1,147		$	(7,192	)
Basic income (loss) per share:
Denominator:
Weighted average common shares outstanding		24,821,665			24,563,038		24,720,817			24,550,999
Basic income (loss) per share	$	0.08		$	0.05	$	0.05		$	(0.29	)
Diluted income (loss) per share:
Denominator:
Weighted average number of:
Common shares outstanding		24,821,665			24,563,038		24,720,817			24,550,999
Dilutive potential common shares outstanding:
Series A Preferred Stock		-			-		-			-
Unvested restricted stock		-			44,466		-			-
Stock options		-			-		-			-
Dilutive shares outstanding		24,821,665			24,607,504		24,720,817			24,550,999
Diluted income (loss) per share	$	0.08		$	0.05	$	0.05		$	(0.29	)

Antidilutive Securities Excluded from Computation of Earnings Per Share

The following table summarizes the potential weighted average shares of common stock that were excluded from the determination of our diluted shares outstanding as they were anti-dilutive:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except share data)	2020		2019		2020		2019
Series A Preferred Stock		-		-		-		-
Unvested restricted stock		767,056		-		566,370		93,654
		767,056		-		566,370		93,654