NET (LOSS) INCOME PER COMMON SHARE (Tables)

6 Months Ended

Jun. 30, 2022

NET (LOSS) INCOME PER COMMON SHARE [Abstract]

Reconciliation of Numerator and Denominator of Diluted Net (Loss) Income Per Share Computations

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

	Three Months Ended June 30,						Six Months Ended June 30,
(in thousands, except share data)	2022			2021			2022			2021
Numerator:
Net income	$	259		$	2,426		$	532		$	6,915
Less: preferred stock dividend		(304	)		(304	)		(608	)		(608	)
Less: allocation to preferred stockholders		-			(349	)		-			(1,046	)
Less: allocation to restricted stockholders		-			(143	)		-			(403	)
Net (loss) income allocated to common stockholders	$	(45	)	$	1,630		$	(76	)	$	4,858
Basic (loss) income per share:
Denominator:
Weighted average common shares outstanding		25,962,617			25,105,238			25,842,456			24,996,583
Basic (loss) income per share	$	(0.00	)	$	0.06		$	(0.00	)	$	0.19
Diluted (loss) income per share:
Denominator:
Weighted average number of:
Common shares outstanding		25,962,617			25,105,238			25,842,456			24,996,583
Dilutive potential common shares outstanding:
Series A Preferred Stock		-			-			-			-
Unvested restricted stock		-			-			-			-
Dilutive shares outstanding		25,962,617			25,105,238			25,842,456			24,996,583
Diluted (loss) income per share	$	(0.00	)	$	0.06		$	(0.00	)	$	0.19

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)	2022		2021		2022		2021
Series A Preferred Stock		5,381,356		5,381,356		5,381,356		5,381,356
Unvested restricted stock		1,547,124		960,877		1,599,891		828,564
		6,928,480		6,342,233		6,981,247		6,209,920