Net Loss Per Common Share

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Net Loss Per Common Share

3. Net Income Per Common Share

Basic and dilutive net income per common share were as follows:

	Quarters Ended March 31,
	2019		2018
Net income applicable to common stockholders	$	2,050,507	$	1,166,252
Weighted average number of common shares outstanding, basic	7,741,463		6,345,719
Dilutive convertible preferred stock	6,222,746		7,380,895
Weighted average number of common shares outstanding, dilutive	13,964,209		13,726,614
Net income per common share applicable to common stockholders, basic	$	0.26	$	0.18
Net income per common share applicable to common stockholders, diluted	$	0.15	$	0.08

Shares underlying the following potentially dilutive weighted average number of common stock equivalents were excluded from the calculation of diluted net income per common share because their effect was anti-dilutive for each of the periods presented: 

	Quarters Ended March 31,
	2019	2018
Options	488,494	336,817
Warrants	459,375	459,375
Total	947,869	796,192

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	Quarters Ended March 31,
	2019		2018
Net income applicable to common stockholders	$	2,050,507	$	1,166,252
Weighted average number of common shares outstanding, basic	7,741,463		6,345,719
Dilutive convertible preferred stock	6,222,746		7,380,895
Weighted average number of common shares outstanding, dilutive	13,964,209		13,726,614
Net income per common share applicable to common stockholders, basic	$	0.26	$	0.18
Net income per common share applicable to common stockholders, diluted	$	0.15	$	0.08