BASIC AND DILUTED (LOSS) INCOME PER COMMON SHARE

6 Months Ended

Jun. 30, 2024

(Loss) income per share:

BASIC AND DILUTED (LOSS) INCOME PER COMMON SHARE

8. BASIC AND DILUTED (LOSS) INCOME PER COMMON SHARE

Basic and diluted (loss) income per common share is calculated based on the weighted average number of vested shares outstanding during the period. The Company’s employee and director equity awards, as well as incremental shares issuable upon exercise of warrants, are not considered in the calculations if the effect would be anti-dilutive. The following table sets forth the computation of basic and diluted (loss) income per share (in thousands, except per share data):

	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2024			2023 (As Restated)		2024			2023 (As Restated)
Numerator:
Net (loss) income	$	(2,283	)	$	848	$	(3,318	)	$	1,590
Denominator:
Weighted average basic shares outstanding		10,920,125			9,908,434		10,518,659			9,838,989
Effect of dilutive securities - equity based compensation plans		-			838,167		-			838,167
Weighted average diluted shares outstanding		10,920,125			10,746,601		10,518,659			10,677,156
Net (loss) income per common share:
Basic	$	(0.21	)	$	0.09	$	(0.32	)	$	0.16
Diluted	$	(0.21	)	$	0.08	$	(0.32	)	$	0.15

As of June 30, 2024, diluted (loss) income per share excludes potentially dilutive common shares related to 654,313 shares underlying stock options as their effect was anti-dilutive.