WEIGHTED AVERAGE COMMON SHARES

12 Months Ended

Dec. 31, 2018

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, 2018, 2017 and 2016, respectively were as follows:

	Year Ended December 31,
	2018		2017		2016
Basic shares outstanding		24,423,479		23,906,395		23,453,427
Dilutive effect of stock options		-		-		-
Diluted shares outstanding		24,423,479		23,906,395		23,453,427

For the years ended December 31, 2018, 2017 and 2016, options to acquire 50,422, 570,306, and 773,078 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, 2018, 2017 and 2016, options to acquire 139,000, 167,667, and 218,167 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.