Net (Loss) Income Per Share

9 Months Ended

Sep. 30, 2022

Net Income Per Share [Abstract]

Net (Loss) Income Per Share

9. Net (Loss) Income Per Share

Basic earnings and net (loss) income per share are computed by dividing the net (loss) income available to common stockholders by the weighted average number of common shares outstanding during the period as defined by ASC Topic 260, Earnings Per Share. Diluted earnings per share is computed using the weighted average number of common shares and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options (using the treasury stock method). To the extent stock options are antidilutive, they are excluded from the calculation of diluted income per share. For the three and nine months ended September 30, 2022, 640,207 shares issuable upon the exercise of outstanding stock options, were not included in the computation of diluted net loss per share from operations because their inclusion would be anti-dilutive. For the three and nine months ended September 30, 2021, 517,972 and 496,421 shares issuable upon the exercise of outstanding stock options, respectively, were not included in the computation of diluted net income per share because their inclusion would be antidilutive. For the nine months ended September 30, 2021, 21,551 shares issuable upon the exercise of outstanding stock options, respectively, were included in the computation of diluted net income per share from operations because their inclusion would be dilutive.

The following table summarizes the net (loss) income per share calculation for the periods presented:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2022			2021			2022			2021
Net (loss) income from operations – basic and diluted	$	(1,050,365	)	$	(409,036	)	$	(2,918,016	)	$	1,329,377
Weighted average shares outstanding – basic		9,722,157			7,718,034			9,774,904			7,179,953
Weighted average shares outstanding – diluted		9,722,157			7,718,034			9,774,904			7,201,504
Per share data:
Basic from operations	$	(0.11	)	$	(0.05	)	$	(0.30	)	$	0.19
Diluted from operations	$	(0.11	)	$	(0.05	)	$	(0.30	)	$	0.18