NET INCOME (LOSS) PER COMMON SHARE (Tables)

6 Months Ended

Jun. 30, 2021

NET INCOME (LOSS) PER COMMON SHARE [Abstract]

Reconciliation of Numerator and Denominator of Diluted Net Income 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 June 30,						Six Months Ended June 30,
(in thousands, except share data)	2021			2020			2021			2020
Numerator:
Net income (loss)	$	2,426		$	783		$	6,915		$	(967	)
Less: preferred stock dividend		(304	)		(305	)		(608	)		(610	)
Less: allocation to preferred stockholders		(349	)		(83	)		(1,046	)		-
Less: allocation to restricted stockholders		(143	)		(23	)		(403	)		-
Net income (loss) allocated to common stockholders	$	1,630		$	372		$	4,858		$	(1,577	)
Basic income (loss) per share:
Denominator:
Weighted average common shares outstanding		25,105,238			24,741,331			24,996,583			24,669,838
Basic income (loss) per share	$	0.06		$	0.02		$	0.19		$	(0.06	)
Diluted income (loss) per share:
Denominator:
Weighted average number of:
Common shares outstanding		25,105,238			24,741,331			24,996,583			24,669,838
Dilutive potential common shares outstanding:
Series A Preferred Stock		-			-			-			-
Unvested restricted stock		-			-			-			-
Dilutive shares outstanding		25,105,238			24,741,331			24,996,583			24,669,838
Diluted income (loss) per share	$	0.06		$	0.02		$	0.19		$	(0.06	)

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 June 30,				Six Months Ended June 30,
(in thousands, except share data)	2021		2020		2021		2020
Series A Preferred Stock		5,381,356		5,577,955		5,381,356		5,513,379
Unvested restricted stock		960,877		319,461		828,564		466,581
		6,342,233		5,897,416		6,209,920		5,979,960