EARNINGS (LOSS) PER SHARE

6 Months Ended

Jun. 30, 2021

Net loss per share:

EARNINGS (LOSS) PER SHARE

(10) EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share is calculated by dividing net income (loss) attributable to common stockholders by the weighted-average number of common shares. Diluted earnings (loss) per share reflects additional common shares that would have been outstanding if dilutive potential shares of Common Stock had been issued. Potential shares of Common Stock that may be issued by the Company include shares of Common Stock that may be issued upon exercise of outstanding stock options. Under the treasury stock method, the unexercised options are assumed to be exercised at the beginning of the period or at issuance, if later. The assumed proceeds are then used to purchase shares of Common Stock at the average market price during the period.

Net loss per share for the three and six months ended June 30, 2021 and 2020, respectively, are as follows:

	Three Months Ended						Six Months Ended
	June 30, 2021			June 30, 2020			June 30, 2021			June 30, 2020
Numerator:
Net loss	$	(1,553,911	)	$	(1,527,985	)	$	(2,099,431	)	$	(2,279,864	)
Denominator:
Weighted average common shares - basic		35,482,181			22,275,441			35,368,931			21,776,101
Potentially dilutive common share equivalent		1,511,030			314,493			1.511,030			314,493
Weighted average common shares - dilutive	$	36,993,211		$	22,589,934			36,879,961			22,090,594
Basic net loss per share	$	(0.04	)	$	(0.07	)	$	(0.06	)	$	(0.10	)
Diluted net loss per share	$	(0.04	)	$	(0.07	)	$	(0.06	)	$	(0.10	)

Diluted loss per common share excludes the effects of 1,511,030 and 314,493 common share equivalents for the three-month period ended June 30, 2021 and 2020, respectively, since such inclusion would be anti-dilutive. Diluted loss per common share excludes the effects of 1,511,030 and 314,493 common share equivalents for the six-month period ended June 30, 2021 and 2020, respectively, since such inclusion would be anti-dilutive.